07 February 2017

Contact Energy considers public bond offer

Contact Energy Limited (“Contact”) has today announced that it is considering making an offer of up to $75 million, with the ability to accept oversubscriptions of up to $25 million, of unsecured, unsubordinated fixed rate bonds (“Bonds”) to institutional investors and New Zealand retail investors. 
The Bonds are expected to have a maturity date of 15 November 2022. It is expected that full details of the offer will be released in the week beginning 13 February 2017, when the offer is anticipated to open. 
Contact has had a corporate credit rating from Standard & Poor’s of BBB (stable) since 2002. The Bonds are expected to have an investment grade issue credit rating of BBB from Standard & Poor’s. 
The offer will be made pursuant to the Financial Markets Conduct Act 2013 as an offer of debt securities of the same class as existing quoted debt securities. The Bonds are expected to be quoted on the NZX Debt Market. Proceeds from the offer will be used for the refinancing of a bond maturing on 13 April 2017 and for general corporate purposes. 
Forsyth Barr Limited (“Forsyth Barr”) and Westpac Banking Corporation (acting through its New Zealand branch) (“Westpac”) have been appointed as Joint Lead Managers and Deutsche Craigs Limited (“Deutsche Craigs”) has been appointed as Co-Manager for the proposed offer. 
Investors can register their interest in the offer by contacting Forsyth Barr, Westpac or Deutsche Craigs using the contact details listed below, or their usual financial advisor. Indications of interest will not constitute an obligation or commitment of any kind. 
No money is currently being sought and no applications for the Bonds may be accepted or money received until the offer opens and investors receive a terms sheet.

Joint Lead Managers - Forsyth Barr Limited