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Infratil Bond Offer Opens

20 May 2016 11:05am

Infratil Infrastructure Bonds 4.90% p.a. due 15 June 2021 and 5.50% p.a. due 15 June 2024

Infratil announces that the offer of the above Series of unsecured unsubordinated Infrastructure Bonds is now open.

Infratil is offering up to $100 million of Infrastructure Bonds in aggregate across both the General and Exchange Offers (as described below) and across both Series (with the option to accept up to $50 million of oversubscriptions in aggregate at Infratil's discretion).

The offer will be made pursuant to the Financial Markets Conduct Act 2013 as an offer of debt securities of the same class as existing quoted debt securities. The notice required by the Financial Markets Conduct Regulations 2014 has been provided to NZX.

The key terms of the offer are contained in the Terms Sheet, a copy of which is attached.

The offer comprises a General Offer to all investors in New Zealand and an Exchange Offer under which holders of the IFT150 bonds that mature on 15 June 2016 have the opportunity (subject to availability) to exchange some or all of their maturing bonds for Infrastructure Bonds of the new Series.

Details on how to apply for the Infrastructure Bonds are set out in the Terms Sheet. The offer is now open, with the Exchange Offer closing on 13 June 2016 and the General Offer closing on 30 June 2016. In both instances Infratil may elect to close the offer earlier.

Interested investors, including holders of existing Infratil bonds that mature 15 June 2016, should contact a Lead Manager of the offer (outlined below) or your usual financial advisor for more details.

ANZ Bank New Zealand 0800269476 www.anzsecurities.co.nz
Deutsche Craigs 0800 226 263 www.craigsip.com
First NZ Capital 0800 005 678 www.firstnzcapital.co.nz
Forsyth Barr 0800 367 227 www.forsythbarr.co.nz
Westpac Banking Corporation 0800 942 822
(acting through its New Zealand branch)

Application has been made to NZX for permission to quote the Infrastructure Bonds on the NZX Debt Market and all the requirements of NZX relating thereto that can be complied with on or before the date of this announcement have been duly complied with. However, NZX accepts no responsibility for any statement in this announcement. NZX is a licensed market operator, and the NZX Debt Market is a licensed market, each regulated under the Financial Markets Conduct Act 2013.

Further information is available on www.infratil.com/for-investors/bonds/ or by contacting Fiona Cameron (Infratil) on 04 473 3663.

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