Auckland Council raises $125m from investors in 4.41% bonds

News from Auckland Council
The Auckland Council closed its retail bond offer today, having successfully raised NZ$125 million.

The interest rate for the bonds has been set at 4.41% per annum, payable semi-annually in arrears.

“We are very pleased with the outcome of the bond issue and the continued support from investors in Auckland Council,” says Treasurer Mark Butcher.

It is expected the bonds will be quoted on the NZX Debt Market from 19 December 2012. The NZDX is a registered market and NZX is a registered exchange under the Securities Markets Act 1988.