Contact Energy says the minimum annual interest it will pay on the up to $250 million of 30-year capital bonds it plans to issue will be 8%.

OnePath Life has seen a sharp drop in its share of new life insurance business in the September quarter and its rate of lapses, surrenders and cancellations is the highest in the market with the exception of Kiwibank.

ASB Bank's mortgage book shrank for a sixth successive quarter in the three months ended March although the rate of decline slowed and its quarterly profit rose.

Blue Star group has appointed Phillip Bower as managing director to replace Chris Mitchell who departed on November 11.

Most product categories of life insurance products showed growth in the September quarter, the second quarter of growth after several quarters of decline although the Investment Savings and Insurance Industry Association (ISI) says sentiment worsened significantly in the three months.

The government-owned national electricity grid operator Transpower has launched a $200 million senior bond issue with the proceeds going to "general corporate purposes."

Estimating how much OPI Pacific Finance's secured debenture holders, owed nearly $200 million, are likely to recover is "extremely difficult," receivers say.

Australian-listed Insurance Australia Group, which operates under the NZI and State Insurance brands, has increased its New Zealand subordinated bond issue for a second time to $325 million.

Lifetime Financial Security has decided to sever its ties with Mortgage Link after failing in a bid to acquire the group.

International ratings agency Standard & Poor's has put Auckland City Council's "AA" long-term credit rating on negative watch because of concerns about its rising debt.

International ratings agency Standard & Poor's has cut Telecom's credit rating to "A-" from "A" with a stable outlook following final court orders permitting it to spin off its network business Chorus into a separate company.

Contact Energy has confirmed it will issue 30-year bonds and has increased the maximum amount by $100 million to $250 million.

Lenders are trying to entice borrowers away from floating rates with attractive fixed home loan rates, but will it work? Jenny Ruth investigates.

Heartland New Zealand says it continues to hold more cash than it needs ahead of the expiry of its government guarantee on December 31.

Infrastructure investor Infratil has launched a new issue of up to $50 million of unsecured unsubordinated infrastructure bonds maturing November 2017 with an 8% annual coupon.

Contact Energy says it is considering issuing $150 million of unsecured, subordinated capital bonds "to further optimise its capital structure through increasing financial flexibility and extending its term funding profile."