Pulse seeks notes sale

NZAX-listed electricity retailer Pulse Utilities New Zealand is signalling a further capital raising via the sale of convertible notes to experienced investors.

The company wants to sell 5 million convertible notes for a face value of $1 a note within 12 months.

The notes will pay 10 per cent a year and on maturity can be redeemed for cash at their face value of $1 a note or converted to shares at 60c a share.