KEY POINTS:
Vector has announced a debt refinancing, with the pricing of an issue of £115 million denominated notes, worth $287.1 million.
The January 2019 maturity notes are part of Vector's recently established European medium term note programme.
The EMTN issue was believed to be the first undertaken by a New Zealand energy infrastructure company in the sterling market, and was the first New Zealand corporate issue to access that market since Telecom in 2005, Vector said yesterday.
Vector Group chief executive Simon Mackenzie said the issue attracted strong interest from the top tier of British and European institutions.
Standard and Poor's rated the notes at BBB+, while Moody's Investor Services rated them at Baa1 (negative).
