Following the successful bookbuild process for its bond offer, Contact Energy Limited (“Contact”) confirmed today that the offer has closed and Contact has accepted NZ$25 million of oversubscriptions (which is 100% of the amount available for oversubscription). As a result NZ$100 million of bonds have been allocated to the participants (or their clients) in the bookbuild process.
The interest rate for the Bonds has been set at 4.63% p.a. This reflects a margin of 1.50% p.a. over the underlying swap rate. The Bonds will be issued on 23 February 2017 and will mature on 15 November 2022. The Bonds are expected to be quoted on the NZX Debt Market under the ticker code CEN040.
The Bonds have an investment grade issue credit rating of BBB from Standard & Poor's.
The full details of the offer are contained in the updated terms sheet which is attached.
For further information please contact:
Louise Tong Head of Treasury and Tax 021 444 224