New Zealand's Mercury NZ loses most in 3 months on bond issuance

Mercury NZ

17/06/2024 01:55

** Shares of electricity generator Mercury NZ  MEL.NZ  slip
as much as 3.7% to NZ$6.445, their biggest intraday pct loss
since March 7
    ** Co considers making an offer of up to NZ$300 mln ($184.08
mln) of unsecured subordinated capital bonds to institutional
investors and New Zealand retail investors
    ** Shares hit their lowest level since May 30 
    ** Stock up 1.4% this year, as of last close, vs a 1.8%
increase in the benchmark S&P/ASX 200 index  .AXJO  

   ($1 = 1.6297 New Zealand dollars)

 (Reporting by Roushni Nair in Bengaluru)
 ((Roushni.Nair@thomsonreuters.com;))