Government to raise $702m from early Chorus debt sale
The Government is selling Chorus debt securities early, netting $702 million to fund infrastructure projects.
The Government is monetising $640 million in debt and equity securities it holds in Chorus through an early sale, generating net proceeds of $702 million. The funds will be redirected towards infrastructure needs. The sale delivers more than the book value of the loans.
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BusinessDesk
Government to earn $702m from Chorus debt sale
The early sale of Chorus debt will net the Government $702 million, more than the book value of the loans. Finance Minister Nicola Willis said in December the Government would seek to monetise the $640m in debt and equity securities…
interest.co.nz
Government monetises Chorus loan, plans to fund more infrastructure
Crown enters into agreements to monetise debt it holds in Chorus so it can fund more infrastructure, Government says this delivers net proceeds of about $702 million