29 Jul 2011

Z holds off new bond issue

12:03 pm on 29 July 2011

Fuel retailer Z Energy has shelved plans for another bond issue.

The firm, owned by Infratil and the New Zealand Superannuation Fund, raised $150 million dollars through an oversubscribed bond issue earlier this month to repay bank debt and lengthen out its debt repayment schedule.

Last week it said it was considering another bond issue but chief executive Mike Bennetts the timing is not right to go ahead.

Mr Bennetts says says it's possible Z will return to the bond market in the future.