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26 Nov 2010
Infratil has registered a simplified disclosure prospectus for an offer of unsecured unsubordinated Infrastructure Bonds with the primary aim of refinancing the Infratil bonds falling due in May 2011 ("2011 Bonds").
The managers of the offer are Forsyth Barr, ANZ National Bank, First NZ Capital and Westpac Institutional Bank.
The offer is to be in two parts. Under the first part, Infratil is offering up to $50 million of Infrastructure Bonds to all investors in New Zealand (with the option to accept up to $25 million oversubscriptions at Infratil's discretion) ("General Offer"). Under the second part, Infratil is offering holders of the 2011 Bonds the opportunity to exchange all or some of their 2011 Bonds for the new Infrastructure Bonds ("Exchange Offer").
At least $50 million of the Infrastructure Bonds offered under the General Offer is subject to firm allocations to the managers. There is to be a public pool with applications processed on a first come first served basis until Infratil chooses to close the issue or the issue is filled. Accordingly, investors are encouraged to submit applications forms as soon as possible.
The offer is now open, and the simplified disclosure prospectus is available on Infratil's website or from the managers.
Application has been made to NZX for permission to list the Infrastructure Bonds on the NZDX 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 registered exchange, regulated under the Securities Markets Act 1988.
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