Frequently asked questions

What does Infratil use Bond funding for?

Infratil has issued twelve series of Bonds (four have been repaid) and there have been different factors behind each. The first issue in 1999 was of approximately $66 million and was used to purchase an interest in Wellington International Airport. Other issues have similarly been invested in assets Infratil has acquired.

Do Infratil Infrastructure Bonds have voting rights?

Not usually. In certain extraordinary situations the holders of each class of Bonds may vote on matters that effect them.

What are my rights as an Infratil Bondholder?

The Bondholders' rights are set out in the Investment Statement. However as there are technicalities and complexities in some of the terminology contained in this description it is a good idea to talk with a professional adviser such as a broker or financial planner. The Bonds are not subordinated, but in certain situations Bondholders may not have priority claims to the assets owned by Infratil.

Who is the Trustee of the Infratil Infrastructure Bonds?

The Trustee is Trustees Executors Limited, Level 5 10 Customhouse Quay, Wellington. Telephone : 04 495 0999.

What is the Trustee's monitoring role with regards to Infratil compliance with Bond covenants and terms?

The terms of Infratil’s Bonds are set out in their individual prospectus and trust deeds (and summarised in the relevant Investment Statement). Each six months Infratil provides the Trustee with a certificate signed by directors confirming its position relative to the Bond covenants and with regards to general compliance with Bond terms. Infratil has always recorded conformity. Bondholders are welcome to contact the Trustee to confirm Infratil’s compliance.

What are the contact details of brokers who trade Infratil Infrastructure Bonds?

Does Infratil have control of Trustpower?

Infratil owns 50.7% of Trustpower, Tauranga Energy Consumer Trust 26.8%. Approximately 13,000 predominantly small investors, many of whom are also electricity customers hold 16.5%.
Infratil appoints two Trustpower directors and supports the Tauranga Energy Consumer Trust's Director nominee to the Trustpower Board. Three other directors are independent, selected to ensure a diversity of experience and relevant backgrounds.

Who are the Directors of Trustpower?

Paul Ridley-Smith (Chairman) appt announced 18 December 2015 to take effect from 31 December 2015

Richard Aitken (Independent) appt 19 May 2010

Kevin Baker (Infratil) appointed 1 June 2018

Alan Bickers appointed 1 September 2014 

Sam Knowles (Independent)

Geoff Swier (Indpendent)

Susan Paterson (Independent) appointed 27 August 2015

Who are the Directors of Perth Energy?

The board of Perth Energy comprises:

• Steve Fitzgerald – Morrison & Co (Chairman);
• Roger Crawford – Morrison & Co;
• Jon Biesse –CIO of Hoperidge Capital;