Announcement

OFFER: MNW: Manawa Energy considers retail bond offer 08:48am 
MNW
15/08/2022 08:48
OFFER
NOT PRICE SENSITIVE
REL: 0848 HRS Manawa Energy Limited

OFFER: MNW: Manawa Energy considers retail bond offer

Manawa Energy Limited (Manawa Energy) has today announced that it is
considering making an offer (Offer) of five year, unsecured, unsubordinated
fixed rate bonds (Bonds) to New Zealand institutional and retail investors.
It is expected that full details of the Offer will be released in the week
beginning 22 August 2022, when the Offer is expected to open.
The Offer will likely comprise two separate parts:
o A "Firm Offer" expected to open on 22 August 2022, which will be available
to New Zealand clients of the Joint Lead Managers, institutional investors
and other primary market participants invited to participate in the
bookbuild. The Firm Offer is expected to close on 25 August 2022 following a
bookbuild process to set the interest rate on the Bonds. There will be no
public pool for the Firm Offer.

o An "Exchange Offer" expected to open on 26 August 2022 (following the Firm
Offer) under which all New Zealand resident holders of the MNW150 Bonds that
mature on 15 December 2022 will have the opportunity to exchange some or all
of their maturing bonds for the Bonds.

Manawa Energy has appointed ANZ Bank New Zealand Limited as the Arranger and
a Joint Lead Manager and also Craigs Investment Partners Limited and Forsyth
Barr Limited as Joint Lead Managers in relation to the proposed Offer.
Investors can register their interest in the proposed Offer by contacting a
Joint Lead Manager or their usual financial adviser. Indications of interest
will not involve an obligation or a commitment to acquire any Bonds.
No money is currently being sought and the Bonds cannot be applied for or
acquired until the Offer opens.
If Manawa Energy offers the Bonds, the Offer will be made pursuant to the
Financial Markets Conduct Act 2013 as an offer of debt securities of the same
class as Manawa Energy's existing bonds which are quoted on the NZX Debt
Market under ticker codes MNW150, MNW170 and MNW180. The Bonds are expected
to be quoted on the NZX Debt Market.

Joint Lead Managers:

ANZ Bank New Zealand Limited
Craigs Investment Partners Limited
Forsyth Barr Limited

For all investor relations and media enquiries, please contact:

Phil Wiltshire, General Manager Corporate Services
Phil.Wiltshire@manawaenergy.co.nz / 027 582 6600
End CA:00396943 For:MNW Type:OFFER Time:2022-08-15 08:48:54

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