✨ Financial Notices
28 NOVEMBER 2008 NEW ZEALAND GAZETTE, No. 186 4889
TRANSPOWER NEW ZEALAND LIMITED LINES BUSINESS
There were no Australian Medium Term notes outstanding as at 30 June 2008 (2007: nil).
US Private Placement
Bonds were issued for a nominal amount of USD 100 million ($164.5 million as amended by cross currency swaps) with maturities in 2016 and 2019 and yields ranging from 5.59% to 5.74%.
Bonds are issued by Transpower Finance under a Note and Guarantee Agreement dated 27 September 2004. The Bonds are guaranteed by Transpower (the "Guarantor"), Fighting Bay Finance Limited, Haywards Limited, Oteranga Bay Limited, Omaka Training Limited, Halfway Bush Finance Limited and TB and T Limited (the "Subsidiary Guarantors"). The Guarantor and Subsidiary Guarantors have unconditionally guaranteed payment of the principal, interest and other amounts owing under the Agreement.
Structured Financing Transaction
In 2002, Transpower entered into a transaction which raised gross funds of $732.7 million of which $532.7 million was on-lent to financial institutions. The economic substance of the transaction was that Transpower and the Group had a net obligation of $200 million. This transaction was unwound during June 2007, with termination on 3 July 2007.
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NZ Gazette 2008, No 186
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Transpower New Zealand Limited Lines Business Provisions
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