13 Aug 2010

$200m bond issue by Greenstone

10:45 am on 13 August 2010

The owner of Shell's petrol stations hopes to raise up to $200 million through a bond issue, to repay debt.

Greenstone Energy, which is a partnership between Infratil and the New Zealand Superannuation Fund, paid nearly $700 million for Shell's retail and distribution assets in April.

It is offering up to $100 million in bonds and will accept up to $100 million in oversubscriptions.

The secured bonds will mature in October 2016 and the interest rate has been set at 7.35%.

ANZ National Bank and First New Zealand Capital Securities are joint lead managers for the offer.