Genesis Energy announces capital bond offer

Company News

by Anna Napoli

Energy company, Genesis Energy (ASX:GNE) has today announced that it is offering up to New Zealand $240 million of 30 year subordinated unsecured capital bonds.

The offer opens today with the capital bonds expected to be quoted on the New Zealand stock exchange.

The proposal will open with an indicative margin range 1.95 to 2.15 per cent per annum for the capital bonds which will mature in 2048.

An announcement on the actual margin will be made following the bookbuild process which is expected to be completed on June 26.

Shares in Genesis Energy (ASX:GNE) closed 0.43 per cent higher to $2.32 on Friday