NZ's Marac says considering NZ$100 mln bond issue

WELLINGTON, June 16 (Reuters) - New Zealand-based financial services business Marac said on Monday it is considering a NZ$100 million ($75 million) issue of five-year, fixed rate secured bonds.

It said the bonds would either have a minimum interest rate of 10.5 percent per annum or the aggregate of the prevailing five-year swap rate and a margin of 2.75 percent.

The company said it may issue a further NZ$25 million if the offer is oversubscribed.

Forsyth Barr has been appointed arranger and joint lead managers with ANZ-National Bank, Marac said.

Marac, one of the largest asset-finance companies in New Zealand according to S&P, has NZ$1.4 billion in assets and is owned by listed finance and investment company Pyne Gould Corp PGC.N. ($1=NZ$1.33) (Reporting by Kazunori Takada)