Contact Energy has moved to shore up its balance sheet with the opening of a $300 million bond offer on Monday.
Last week the company announced a drop in its half year profit due to lower generation and constraints on transmission.
Contact says the fixed interest bonds have an unspecified level of oversubscriptions and are aimed at retail investors.
The company wants the money to fund its geothermal projects.
Given the 8% return on offer, Kapiti Coast sharebroker Chris Lee says the number of oversubscriptions may be on the low side.
The issue closes on 31 March.