Jamie Sinclair says Watercare will become a 'very large corporate debt holder'. (Image: BusinessDesk)Watercare executives are expected to travel to Europe within the next two months as the Auckland water utility prepares to raise close to $1 billion in another offshore debt issue.If the raise goes ahead, it would be the latest step in Watercare’s transformation into one of New Zealand’s largest non-bank corporate borrowers, with its total debt forecast to approach $10b by 2034.Watercare chief executive Jamie Sinclair said the borrowing would support Watercare’s expanded $15.2b capital programme while also helping it repay deb...