Z Energy Limited, formerly Greenstone Energy Limited, has today announced an offer of up to $100 million bonds with the ability to accept a further $50 million in oversubscriptions.

The offer is expected to open on the 8th of July 2011 and remain open until 5 August 2011.

The bonds will have an interest rate of 7.25% and will mature on 15 August 2018.

The bonds are secured senior obligations of Z Energy and will rank equally with each other and the existing series of bonds issued by Greenstone Energy Finance Limited.

Interest will be paid quarterly, with the first interest payment scheduled to occur on 15 August 2011.

Joint lead managers for this issue are; ANZ National Bank; First NZ Capital; Westpac Institutional Bank and Forsyth Barr.

The minimum application amount is $5,000 and in multiples of $1,000 thereafter.