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Government to earn $702m from Chorus debt sale
['Thomas Manch']
BusinessDesk | NZ breaking news and commentary on business, NZX and politics
The Government will this month sell Chorus debt for $700m.
(Image: Supplied)The early sale of Chorus debt will net the Government $702 million, more than the book value of the loans.Finance Minister Nicola Willis said in December the Government would seek to monetise the $640m in debt and equity securities it held in Chorus, so the money could be spent on more urgent infrastructure needs.The telecommunications infrastructure firm had been due to fully repay these interest-free loans in 2036.
The loans had been provided by the Crown between 2012 and 2023 to accelerate the build of a fibre broadband network across t...