Media Statement
10 November 2011
Contact Energy Capital Bond offer
Contact Energy Limited has today announced an offer of up to $150 million of Capital Bonds to the New Zealand public, with the ability to accept oversubscriptions of up to a further $100 million. The issue of Capital Bonds is primarily being undertaken to further optimise its capital structure through increasing financial flexibility and extending its term funding profile. The proceeds of the Offer will be applied to general corporate purposes.
The Capital Bonds will be unsecured, subordinated, redeemable, cumulative, interest bearing debt securities. They have a maturity date of 15 February 2042 but can be redeemed on any interest payment date from 15 February 2017, and earlier in certain circumstances.
The Capital Bonds will pay interest quarterly at a rate to be set after the close of the offer. However the Minimum Interest Rate on the Capital Bonds for the first five years until 15 February 2017, which will not be less than 8.00% per annum, will be set on 22 November 2011 and announced on or before the opening date for the Offer.
The Offer is expected to open on 23 November 2011 and close on 15 December 2011 at midday. Interested investors should contact their usual financial adviser or contact one of the joint lead managers or the co-manager to the Offer listed below to request a copy of the Simplified Disclosure Prospectus:
Joint Lead Managers Craigs Investment Partners - 0800 226 263 ANZ - 0800 ANZ IPO (0800 269 476) ASB Institutional - 0800 ASB OFFER (0800 272 633) Forsyth Barr - 0800 367 227
Co-Manager Westpac Institutional Bank - 0800 489 222
The Simplified Disclosure Prospectus is also available on Contact Energy’s website, www.contactenergy.co.nz/bonds.
ENDS