Announcement
OFFER: CCH: CCHL launches retail sustainability bond offer
09:17am
CCH
26/10/2021 09:17
OFFER
PRICE SENSITIVE
REL: 0917 HRS Christchurch City Holdings Limited
OFFER: CCH: CCHL launches retail sustainability bond offer
Christchurch City Holdings Limited (CCHL) confirmed today that it is offering
up to NZ$100,000,000 of 5 year, unsecured, unsubordinated, fixed rate
sustainability bonds (with the ability to accept up to NZ$50,000,000 in
oversubscriptions at CCHL's discretion) (the Sustainability Bonds) to New
Zealand retail investors and to institutional investors.
The offer opens today and will be made in reliance upon the Financial Markets
Conduct (Christchurch City Holdings Limited Sustainable Bond Offer) Exemption
Notice 2021 (the Exemption).
The notice required by the Exemption has been provided to NZX and is
attached. The Sustainability Bonds are expected to be quoted on the NZX Debt
Market.
Full details of the sustainability bond offer are contained in the indicative
terms sheet, which is attached and available through
www.cchl.co.nz/bond-offer. A copy of CCHL's sustainable finance framework is
also attached and available through www.cchl.co.nz/bond-offer.
The offer will open with an indicative margin range of 0.37% to 0.42% per
annum and the Sustainability Bonds will mature on 5 November 2026. An
announcement of the actual margin (which may be above or below the indicative
margin range) and the interest rate on the Sustainability Bonds will be made
following the conclusion of the bookbuild process, which is expected to be on
28 October 2021. The terms sheet will be updated to include the interest rate
and will be released on the same day.
The Sustainability Bonds are expected to be assigned a long term credit
rating of AA- by S&P Global Ratings.
There is no public pool for the offer, with 100% of the Sustainability Bonds
reserved for clients of the Joint Lead Managers, NZX participants, other
approved financial intermediaries and institutional investors. The offer will
close on 28 October 2021 following the completion of the bookbuild process.
Interested investors should contact the Joint Lead Managers or their usual
financial adviser for more details.
ENDS
For further information:
Toni Rowell
Chief Financial Officer
Phone: +64 3 941 8374
Mobile: +64 21 896 486
Email: toni.rowell@cchl.co.nz
End CA:00381533 For:CCH Type:OFFER Time:2021-10-26 09:17:14
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