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Mercury NZ ( (MGHTF) ) just unveiled an update.
Mercury NZ Limited, a New Zealand renewable electricity generator and multi-utility retailer, is planning a potential offer of up to $200 million in seven-year unsecured, unsubordinated fixed-rate green bonds, with capacity for an additional $50 million in oversubscriptions. The company, rated BBB+ with a stable outlook by S&P Global Ratings, expects any green bonds issued to carry the same rating and be quoted on the NZX Debt Market.
Proceeds from the prospective green bond issue are intended to be notionally allocated to finance or refinance eligible projects under Mercury’s Green Financing Framework, with current expectations that funds will be used to refinance existing debt. The offer, reserved for institutional investors, clients of the appointed joint lead managers and other primary market participants, would be made under New Zealand’s Financial Markets Conduct Act 2013 as a same-class quoted debt offer, underscoring Mercury’s ongoing use of green financing to support its capital structure and renewable-focused strategy.
More about Mercury NZ
Mercury NZ Limited is a New Zealand-based electricity generator and retailer focused on 100% renewable energy from hydro, geothermal and wind assets. The company also supplies electricity, gas, broadband and mobile services, and is dual-listed on the NZX and ASX under the ticker MCY, with the New Zealand Government retaining a minimum 51% shareholding.
See more data about MGHTF stock on TipRanks’ Stock Analysis page.