10 Dec 2009

$350 million bond issue by Auckland City Council

6:02 am on 10 December 2009

Auckland City Council is planning a retail bond issue to raise $350 million.

It is the second retail bond issue by the council and it will pass on the borrowed fund to other councils on the same terms.

Finance and strategy committee chairman Douglas Armstrong says it is considering other funding options such as wholesale bonds and borrowing directly from banks.

The offer will open on 26 February and close on 11 March.