Greenstone Energy said Tuesday it may raise NZ$100 million ($71.2 million) through a bond offering to pay down debt.

The company, which is jointly owned by Infratil Ltd. (IFT.NZ) and the New Zealand Superannuation Fund, said a final decision on a retail bond issue won't be made until the end of July, when documentation is expected to be finalized.

Greenstone Chief Executive Mike Bennetts said the issue would be used to repay bank debt.

On April 1, Greenstone purchased the New Zealand downstream assets of Royal Dutch Shell PLC (RDSA) for NZ$696.5 million, plus an adjustment for actual net working capital in excess of NZ$208 million.

-By Lucy Craymer, Dow Jones Newswires; 64-4-471-5990; lucy.craymer@dowjones.com
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