New Zealand telco, Spark (ASX:SPK) has announced its wholly owned subsidiary, Spark Finance will issue NZ$169 million worth of 10-year fixed rate notes under Spark’s existing Australian debt issuance programme.
The notes will be issued today and mature on 19 March 2029.
Capital raised will be used to partially refinance an upcoming debt maturity.
The issuance will also provide Spark with another funding source, adding further diversification to complement its existing domestic and offshore issuances.
The notes are listed on the NZX as wholesale debt securities and are expected to be rated A- by S&P Global.
Shares in Spark (ASX:SPK) closed 0.57 per cent higher to $3.52 yesterday.