The company, this country's fourth largest electricity retailer, said bonds had become an important part of its overall funding as it looked to develop new generation capacity and achieve a more efficient capital structure.
"This increased use of debt funding reflects the maturing nature of the electricity industry and TrustPower's anticipation of solid earnings and investment opportunities going forward," said company chairman Harold Titter.
The bonds on offer are unsecured subordinated bonds, with an 8.5% per annum interest rate and a maturity at March 15, 2014.
Listed TrustPower owns and operates 34 power stations in the North and South Islands and services approximately 250,000 customers throughout New Zealand.
