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Utilities investor Infratil Ltd said it will close its Perpetual Infratil Infrastructure bonds (PiiBs) offer on April 30.
The issue, launched in November, has raised $227 million worth of securities so far, said Morrison & Co, which manages Infratil investments.
The initial target was around $250 million.
The offer is open to Infratil's existing share, warrant and bond holders and the public. It will also be offered through a panel of dealers, Infratil said.
First New Zealand Capital and ABN AMRO Craigs are co-managing the issue.
PiiBs are infrastructure bonds with no maturity date and will initially yield 9 per cent a year. The yield will be reset each year, starting on November 15, 2007, at the one-year swap rate plus 1.5 per cent a year, the company said.
Proceeds will be used to refinance bank debt.
- REUTERS
