11 Jul 2012

Interest rate set by Z Energy

7:15 am on 11 July 2012

Z Energy has set the interest rate for the $150 million it's seeking from investors.

Seven year, senior and secured bonds will pay a rate of 6.5% per year.

Z Energy will use the money to repay debt and bolster its balance sheet.

The fuel retailer, which is jointly owned by Infratil and the New Zealand Superannuation Fund, has already raised nearly $300 million from two previous bond issues.