Thursday 7th March 2024 |
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Spark Finance sets interest rates for offer
Spark Finance Limited earlier today announced that, following a bookbuild for its offer of two series of unsecured, unsubordinated fixed rate bonds (the 2029 Bonds and the 2031 Bonds, and together the Bonds), NZ$300 million of Bonds have been allocated to participants (or their clients) in the bookbuild process.
The interest rates for the Bonds have been set at:
• 5.21 per cent per annum for the 2029 Bonds. This is the sum of the base rate plus a margin of 0.85 per cent per annum.
• 5.45 per cent per annum for the 2031 Bonds. This is the sum of the base rate plus a margin of 1.10 per cent per annum.
The Bonds will be issued on 18 March 2024, and are expected to be quoted on the NZX Debt Market on 19 March 2024 under the following ticker codes:
• SPF590 for the 2029 Bonds; and
• SPF600 for the 2031 Bonds.
A copy of the final terms sheet (updated for the interest rates set out above) for the offer will be released via NZX later today.
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