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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.

SUMMARY

Issuer

Meridian Energy Limited

Offer Description

Unsecured, unsubordinated, fixed rate bonds (Bonds)

Issue Amount

Up to $150 million plus up to $50 million of oversubscriptions

Maturity Date

27 June 2025

Interest Rate

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%.

Interest Payments

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.

Listing

NZX Debt Market (MEL050).

Offer Opens

11 June 2018

Offer Closes

15 June 2018

Rate Set Date

15 June 2018

Issue and Settlement Date

27 June 2018

Minimum Application

$5,000 and in multiples of $1,000 thereafter

Issue Price

$1.00 per Bond

<div>Deutsche Craigs Limited, a wholly owned subsidiary of Craigs Investment Partners Limited, has been appointed as a Co-manager to the offer and will receive a fee for undertaking this role. Craigs Investment Partners Limited is a NZX Participant firm. A Disclosure Statement is available free of charge on request. Please visit craigsip.com for more information. As the financial information detailed in this document does not constitute advice please contact an Investment Adviser should you wish to receive advice relevant to your personal circumstances.</div><div><br></div>