9 Oct 2012

Auckland Council seeks $175m through bond isse

9:04 am on 9 October 2012

Auckland Council is issuing bonds to fund investment in the city's infrastructure.

The council, which opens its first retail bond issue on Tuesday, is seeking to raise up to $175 million.

It says bonds are an effective and efficient way to raise debt to fund infrastructure investment.

The fixed-rate secured bonds, which are for six year term, carry a credit rating of AA from Standard & Poors. The offer closes on Friday.