After launching its new five-year transaction the day before, Transpower New Zealand (AA- by S&P) announced on 25 August it is increasing the amount of oversubscriptions it is able to accept to NZ$175 million (US$114.4 million) from NZ$75 million. The volume cap is now NZ$300 million. Pricing is expected on the day of the announcement, according to lead manager Westpac Banking Corporation New Zealand Branch.