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Infratil Bond Issue
12 Nov 2010
Infratil Limited ("Infratil") is considering making an offer of Infrastructure Bonds to the public. No money is currently being sought and no applications for the Infrastructure Bonds will be accepted or money received unless the subscriber has received the simplified disclosure prospectus.
The Infrastructure Bonds are likely to have a tenor of approximately five years. The Infrastructure Bonds will constitute a new series under Infratil's Infrastructure Bond Programme, and will be issued on similar terms to existing series of dated Infrastructure Bonds. The net proceeds of the Infrastructure Bonds will be used for general corporate purposes of Infratil including repayment of debt, and lengthening the maturity profile of total debt facilities.
The offer is likely to consist of two tranches. Under the first tranche, Infrastructure Bonds will be offered to all investors in New Zealand. Under the second tranche, holders of the existing Infrastructure Bonds maturing on 15 May 2011 ("2011 Bonds") will be offered the opportunity to exchange all or some of their 2011 Bonds for new Infrastructure Bonds. Holders of the 2011 Bonds will be contacted with the Issue details once these are finalised.
An announcement of the offer size of each tranche and the interest rate for the Infrastructure Bonds is expected to be made on or around the opening of the offer.