Chorus (ASX:CNU,NZE:CNU) opened an up to NZ$170 million capital notes offer on Monday, May 26, according to a same-day filing with the Australian and New Zealand bourses.
The notes carry a term of 31 years and will mature on June 3, 2056, unless redeemed earlier, the filing said.
The interest rate on the notes will be the higher of the six-year benchmark rate on the rate set date plus an initial margin, expected to range between 2.10% and 2.25% per annum, or a minimum initial rate of 5.5% per annum.
The offer is expected to close on May 29, the filing added.
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