Chorus makes rare Kiwi visit to Europe, is five times sold

By GlobalCapital
28 Nov 2019

Chorus, New Zealand’s largest fixed line telecoms business, launched a €300m no-grow seven year bond on Thursday — the only corporate euro issue of the day.

Chorus, rated Baa2/BBB with stable outlooks, was demerged in 2011 from Telecom New Zealand, now Spark New Zealand.

It operates a nationwide copper and fibre network, with 1.45m connections, including about 1.2m broadband links. In the financial year 2019, Chorus made revenues of NZ$970m ($623m) and Ebitda of NZ$636m.

On ...

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