FIXED RATE BOND OFFER DETAILS: MERIDIAN ENERGY LIMITED
Meridian Energy Limited (Meridian Energy) has announced an offer of unsecured, unsubordinated fixed rated bonds, maturing in June 2025.
ISSUE & SETTLEMENT DATE: 27 JUNE 2018
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Meridian Energy Limited (Meridian Energy) has announced an offer of unsecured, unsubordinated fixed rated bonds (Bonds). The Bonds have a term of seven years, maturing in June 2025.
Brokerage may be charged and settlement will take place on 27 June 2018.
The offer is being made in accordance with the Financial Markets Conduct Act and the Bonds are expected to be quoted on the NZX Debt Market (MEL050).
Please refer to the Terms Sheet linked here for full details of the offer. An Investor Presentation is also available. You should read the Terms Sheet carefully before applying for Meridian Energy Bonds, and understand the benefits and risks of investing in these Bonds.
Note, the offer is subject to scaling. Brokerage may be charged.
Meridian Energy Limited
Unsecured, unsubordinated, fixed rate bonds (Bonds)
Up to $150 million plus up to $50 million of oversubscriptions
27 June 2025
To be determined by Meridian Energy following the bookbuild, and announced by Meridian Energy via NZX on or shortly after the Rate Set Date (15 June 2018).
The Interest Rate will be equal to the sum of the Issue Margin and the Base Rate, but in any case will be no less than 4.20%.
Indicative Issue Margin
1.30% to 1.40%.
As at 11 June this implied an indicative interest rate in the range of 4.25% to 4.35%.
Semi annually in arrear in equal amounts on 27 June and 27 December of each year up to and including the Maturity Date.
Issuer Credit Rating
BBB+ with a Stable Outlook from Standard & Poor’s.
NZX Debt Market (MEL050).
11 June 2018
15 June 2018
Rate Set Date
15 June 2018
Issue and Settlement Date
27 June 2018
$5,000 and in multiples of $1,000 thereafter
$1.00 per Bond