Announcement
OFFER: IFT: Infratil Infrastructure Bond Offer Opens
08:59am
IFT
20/08/2019 08:59
OFFER
PRICE SENSITIVE
REL: 0859 HRS Infratil Limited
OFFER: IFT: Infratil Infrastructure Bond Offer Opens
Infratil Infrastructure Bonds
3.35% p.a. due 15 December 2026 and 3.50% p.a. (rate reset on 15 December
2020 and annually thereafter) due 15 December 2029
Infratil announces that the offer of the above Series of unsecured
unsubordinated Infrastructure Bonds is now open.
Infratil is offering up to $200 million of Infrastructure Bonds in aggregate
across both Series (with the option to accept up to $100 million of
oversubscriptions in aggregate at Infratil's discretion).
The offer will be made as an offer of debt securities of the same class as
existing quoted debt securities pursuant to the Financial Markets Conduct Act
2013. The notice required by the Financial Markets Conduct Regulations 2014
has been provided to NZX.
The key terms of the offer are contained in the Terms Sheet, a copy of which
is attached.
The interest rate for the Infrastructure Bonds due 15 December 2026 ("2026
Bonds") will be fixed at 3.35% p.a. for the full term of the 2026 Bonds.
The interest rate for the Infrastructure Bonds due 15 December 2029 ("2029
Bonds") will be fixed for the first 15 months, and will then reset on 15
December 2020 and on 15 December of each subsequent year during the term of
the 2029 Bonds (each, a "Rate Reset Date"), so that:
o the interest rate on the 2029 Bonds for the period from the Issue Date to
(and including)
15 December 2020 will be 3.50% p.a.; and
o for each subsequent year, the interest rate will be the sum of the One Year
Swap Rate on the relevant Rate Reset Date plus a margin of 2.50% p.a. subject
to a minimum interest rate of 2.50% p.a.
More information on the reset of the interest rate for the 2029 Bonds is set
out in the attached Terms Sheet.
The offer is being made to all investors in New Zealand.
Details on how to apply for the Infrastructure Bonds are set out in the Terms
Sheet. The offer is now open, and will close on 20 September 2019. Infratil
may elect to close the offer earlier.
Interested investors, should contact their broker or one of the managers of
the offer (outlined below) for more details.
ANZ Bank New Zealand Limited 0800 269 476
Bank of New Zealand 0800 284 017
Deutsche Craigs Limited 0800 226 263 www.craigsip.com
Jarden Securities Limited 0800 005 678 www.jarden.co.nz
Forsyth Barr Limited 0800 367 227 www.forsythbarr.co.nz
Application has been made to NZX for permission to quote the Infrastructure
Bonds on the NZX Debt Market and all the requirements of NZX relating thereto
that can be complied with on or before the date of this announcement have
been duly complied with. However, NZX accepts no responsibility for any
statement in this announcement. NZX is a licensed market operator, and the
NZX Debt Market is a licensed market, each regulated under the Financial
Markets Conduct Act 2013.
Further information is available on www.infratil.com/for-investors/bonds/ or
by contacting Fiona Cameron, Group Treasurer, Infratil on 04 473 3663.
End CA:00339393 For:IFT Type:OFFER Time:2019-08-20 08:59:12
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