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Term Sheet

19/10/2021 02:45p.m.
NZ/AU Markets   
Exchange Traded Funds   
NZ Fixed interest   
New Issues
Cash Management Trust Account
Issuer Meridian Energy Limited
Business of the Issuer MEL is a New Zealand electricity generator and retailer. The company is New Zealand's largest electricity generator, generating 30% of the country's electricity, and is the fourth largest retailer, with 13% of market share in terms of customers as of 30 June 2017. MEL operates ten hydroelectric power stations and seven wind farms across New Zealand and Australia.
Instrument Unsecured, unsubordinated, fixed rate bonds.
NZDX Code MEL050
Ranking Unsecured, unsubordinated, fixed rate debt.
Issue Size $200m
Maturity Date 27 June 2025
Coupon Rate 4.21%
Credit Rating BBB+
Maturity Mechanism Cash on maturity.
Payment Frequency Semi-annually
Coupon Payments Semi-annually on 27 June and 27 December until maturity.
Minimum Holding 5,000
Minimum Parcel Size 1,000
Registry Computershare Registry Services Limited

Jarden Securities Limited (“us”, “we” or “our”) owns and operates the Direct Broking platform and service. We have compiled this fixed interest term sheet (“Term Sheet”) for your information purposes only. We have provided this Term Sheet to you in good faith and have prepared it using our own views, external sources, material, systems and other information that we believe to be accurate, complete and reliable at the time of preparation, but the accuracy, correctness and completeness cannot be guaranteed. We make no representation or warranty, express or implied, as to the accuracy, correctness or completeness of the information contained within this Term Sheet, and nothing shall be deemed to constitute any representation or warranty. To the fullest extent permitted by law, we shall not be liable or responsible for any error or omission.

This Term Sheet is not to be relied upon as a basis for making any investment decision. This Term Sheet does not take into account your particular financial situation or goals, and does not, therefore, constitute personalised financial advice under the Financial Advisers Act 2008, nor does it constitute advice of a legal, tax, accounting or other nature. Please consult your adviser in relation to any investment decision. To the fullest extent permitted by law, we shall not be liable for any decision made or action taken by you or a third party based on, or in reliance on, any information contained in this Commentary.

We and our related and associated companies, directors, employees may have an interest in the bonds mentioned in this Term Sheet, including but not limited to financial. We are an NZX Firm. A disclosure statement is available on request.

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