The bonds worth $100 million have been offered by the Greenstone Energy at an interest rate of 7.35% to relieve off its debt.

The Company also expressed that over and above the said offer, it could also invite oversubscriptions for a sum up to $NZ100.

In April, Greenstone acquired Shell’s retail and distribution business in New Zealand. The Company bought Shell's 230 service stations, 95 truck stops and a fuel storage network and distribution infrastructure.

Apart from that, it also took over a 17% shareholding in the New Zealand Refining Co. and a 25% shareholding in Loyalty New Zealand.

Greenstone is possessed jointly by the New Zealand Superannuation Fund and INFRATIL.

On Friday, Greenstone told that they put the bonds to sale, as they require money to repay the fraction of debt, which they raised to realize its buyout from Shell.

The offer will be traded in the supervision of ANZ National Bank and First New Zealand Capital Securities, who are its combined lead managers.

Also, it is likely that the proprietor of Shell's petrol stations will raise up to $200 million by issuing bonds in order to repay the borrowing. To get the possession of Shell's retail and distribution assets, Greenstone Energy paid around $700 million.

In October 2016, the term of the secured bonds will expire. The bonds will be available to New Zealand residents only.