Mercury NZ Green Bond, 2030

Mercury NZ generates electricity entirely from renewable sources — hydro on the Waikato, geothermal in the central North Island, and a growing wind portfolio. Its green bonds are certified against the Climate Bonds Standard, with proceeds ring-fenced to renewable generation assets.

Mercury holds an investment-grade credit rating, which places these bonds a clear step above unrated retail issuers on credit quality while still paying a meaningful margin over government debt.

Interest is paid quarterly. The bonds are listed on the NZX Debt Market and traded through a sharebroker in parcels from $5,000.

Mercury NZ Green Bond, 2030 is bought and sold through a New Zealand sharebroker rather than direct from the issuer. You pay the prevailing market price plus brokerage, which is why the yield to maturity above differs from the 6.10% coupon.

Held to July 2030, you receive the scheduled interest and face value at maturity, assuming the issuer meets its obligations. Sold earlier, you receive whatever the market pays that day — higher if interest rates have fallen, lower if they have risen. Listed does not guarantee liquid, so the prudent assumption is that you hold to maturity.

This bond ranks as senior unsecured. Ranking determines where you stand relative to other creditors if the issuer runs into trouble, and it matters more than the headline rate.