Infratil Limited (Infratil) announced today that following the completion of the Firm Offer of 7½ year unsecured, unsubordinated, fixed rate infrastructure bonds maturing on 15 March 2031 (2031 Bonds), the Exchange Offer is now open.

Under the Exchange Offer all New Zealand resident holders of the IFT210 bonds maturing on 15 September 2023 (2023 Bonds) have the opportunity to exchange some or all of their 2023 Bonds for 2031 Bonds. All eligible holders of the 2023 Bonds who submit valid applications will have their applications satisfied in full up to a maximum of the number of 2023 Bonds they hold. There is no ability to apply for additional 2031 Bonds under the Exchange Offer.

The key terms of the Exchange Offer, and how to apply, are contained in the updated Terms Sheet attached.

 

The Interest Rate has been set at 7.08% per annum. This is equal to the sum of the Issue Margin of 2.40% per annum and the Base Rate on the Rate Set Date of 4.68% per annum.

The offer is being made as an offer of debt securities of the same class as existing quoted debt securities pursuant to the Financial Markets Conduct Act 2013.

The 2031 Bonds under the Exchange Offer will be issued on 15 September 2023. The 2031 Bonds will be quoted on the NZX Debt Market under the ticker code IFT340.

How do I apply?

You can apply online at www.infratilbondexchangeoffer.com. We strongly encourage using the online portal to avoid missing out due to postal delays or due to issues processing manual applications.

If you are unable to complete the online application form, please go to Infratil’s website www.infratil.com/for-investors/our-bonds and download a copy of the updated Terms Sheet which includes a printable application form for completion, or alternatively contact Link Market Services on applications@linkmarketservices.com or call 09 375 5998 for further information on how to participate in the Exchange Offer.

 

If you hold 2023 Bonds via a nominee, trustee or custodian, please contact them if you want to participate in the Exchange Offer.

All applications (whether through the online portal or printed application form) must be received before the Exchange Offer closes at 5.00pm on 13 September 2023.

Further information regarding the offer is available on website www.infratil.com/for-investors/our-bonds or by contacting a Joint Lead Manager or your usual financial adviser.

Arranger and Joint Lead Manager

Bank of New Zealand

Joint Lead Managers:

ANZ Bank New Zealand Limited

Craigs Investment Partners Limited

Forsyth Barr Limited

Jarden Securities Limited

Tom Robertson

Treasury and Risk Manager, Infratil

Phone: +64 4 550 5432

Email: tom.robertson@hrlmorrison.com