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Z Energy Bond Offer

6 Jul 2011

Z Energy Limited ("Z Energy", formerly Greenstone Energy Limited), has today registered a Simplified Disclosure Prospectus for an offer of up to NZ$100 million bonds (with the ability to accept oversubscriptions of up to NZ$50 million).

The offer is expected to open on Friday 8 July 2011 and to remain open until 5 August 2011 (unless extended or shortened by Z Energy).
The bonds will have an interest rate of 7.25% p.a. and will mature on 15 August 2018. The bonds are secured senior obligations of Z Energy and will rank equally with each other and the existing series of bonds issued by Greenstone Energy Finance Limited (in respect of which Z Energy has become the substitute issuer).

The bonds are unconditionally guaranteed by Z Energy, Aotea Energy Limited, Greenstone Energy Holdings Limited, Greenstone Energy Finance Limited, Harbour City Property Investments Limited, Big Tree Stations Limited and Mini Fuels & Oils Limited ("Z Energy Group"). The ultimate joint owners of the Z Energy Group, New Zealand Superannuation Fund and Infratil, do not guarantee the bonds.

The Z Energy Group's banks and bondholders share the same security over Z Energy's and the guarantors' assets on an equal ranking basis. This security ranks behind Shell's security over petroleum products that Shell has supplied for which it has not been paid, and their proceeds, and statutorily preferred creditors.

No applications for bonds issued by Z Energy will be accepted or money received unless the subscriber has received the Simplified Disclosure Prospectus for the offer. The minimum application amount in respect of the bonds is NZ$5,000 and in multiples of NZ$1,000 thereafter.

Click here for:
the Z Energy announcement
Z Energy Bond Issue Flyer
Z Energy Bonds Simplified Prospectus
Aotea Energy Limited Accounts
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