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Greenstone Energy considers $100 million bond offer

Contributor:
Fuseworks Media
Fuseworks Media

Wellington, July 13 NZPA - Greenstone Energy, which took over the ownership of the Shell retail and distribution business in April, is considering a $100 million retail bond issue to repay bank debt.

Greenstone, a partnership between Infratil and the New Zealand Superannuation Fund, paid nearly $700m for the business.

The company expected to make a final decision on a bond issue by the end of the month.

Any bonds would be likely to mature from 2016 onwards, and holders would rank with Greenstone's banks in terms of security, chief executive Mike Bennetts said.

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