Hirepool, the equipment rental company controlled by Australian private equity firm Next Capital, has confirmed plans to go public with an initial public offering, said to be aimed at raising $250 million. The Auckland-based company said it expects to register a prospectus on June 16, with the issue price set by a bookbuild. On listing, Hirepool may have a market value …

MightyRiverPower’s proposed issue of up to $300 million of July 2044 bonds has been rated BB+ and assessed as ‘intermediate equity’ by Standard & Poor’s, meaning the ratings company will classify 50 percent of the interest paid as dividends. The rating and classification come after S&P last year changed its criteria for assessing the equity content of hybrid instruments such …

New Zealand’s seasonally adjusted first-quarter wholesale trade sales slipped 0.4 percent from the previous quarter, led by a decline in machinery and equipment. The decline follows a revised 2.3 percent gain in the fourth quarter, Statistics New Zealand said. Wholesale sales of machinery and equipment, which include consumer electronics, telecommunication equipment, professional and scientific equipment, and agricultural machinery, slid 4.8 …