Meridian Energy considers Green Bond offer

Meridian Energy Limited (Meridian) is considering making an offer of up to $200 million (with the ability to accept oversubscriptions of up to an additional $100 million at Meridian's discretion) of 6 year unsecured, unsubordinated, fixed rate green bonds (Green Bonds) to institutional and New Zealand retail investors. It is expected that full offer details will be released on Monday, 11 March 2024, when the offer is expected to open. Meridian has an Issuer Credit Rating from S&P Global Ratings of BBB+ (stable outlook). The Green Bonds are expected to be assigned an Issue Credit Rating of BBB+. If the proposed offer is made, the proceeds of the offer will in part be used to refinance Meridian's $150 million green bonds (NZX ticker code MEL040) which mature on 20 March 2024, being before the intended issue date for the new Green Bonds. Meridian has appointed Craigs Investment Partners Limited and Westpac Banking Corporation (ABN 33 007 457 141) (acting through its New Zealand Branch) as Joint Arrangers and Joint Lead Managers, and ANZ Bank New Zealand and Forsyth Barr Limited as Joint Lead Managers in relation to the proposed offer. Investors can register their interest in the proposed offer by contacting a Joint Lead Manager as detailed below, or their usual financial adviser. Indications of interest will not involve an obligation or commitment to acquire any Green Bonds. No money is currently being sought and Green Bonds cannot currently be applied for or acquired. If the proposed offer is made, it will be made in accordance with the Financial Markets Conduct Act 2013 as an offer of debt securities of the same class as existing quoted debt securities. Application will be made to NZX for any Green Bonds to be quoted on the NZX Debt Market on completion of the offer. Joint Lead Managers: ANZ Bank New Zealand Limited: 0800 269 476 Craigs Investment Partners Limited: 0800 226 263 Forsyth Barr Limited: 0800 367 227 Westpac Banking Corporation (ABN 33 007 457 141) (acting through its New Zealand Branch): 0800 772 142 End CA:00426969 For:MEL Type:OFFER Time:2024-02-28 08:32:34