Meridian Energy (ASX:MEZ, NZE:MEL) said that it is considering making an offer of up to NZ$250 million of 6.5-year unsecured, unsubordinated, fixed-rate green bonds to institutional and New Zealand retail investors, according to a Monday filing with the Australian and New Zealand bourses.
The firm would have the ability to accept oversubscriptions of up to an additional NZ$50 million at its discretion.
It appointed the Bank of New Zealand as the arranger and joint lead manager, while Craigs Investment Partners, Forsyth Barr, and Westpac Banking Corporation (ASX:WBC, NZE:WBC), acting through its New Zealand branch, were named as joint lead managers in relation to the proposed offer.
The proposed offer is expected to open on Sept. 1.
The firm's shares fell almost 2% on the New Zealand bourse and almost 1% on the Australian bourse in recent trading on Monday.
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