Meridian Energy launches fixed rate retail bond offer

Meridian Energy Limited (Meridian) announced today that it is offering up to NZ$100,000,000 unsecured, unsubordinated fixed rate bonds (Bonds) to institutional and New Zealand retail investors, with the ability to accept up to $50,000,000 oversubscriptions at Meridian's discretion. Full details of the Bond offer are contained in the Terms Sheet, available through www.meridianenergy.co.nz/investors or by contacting the Joint Lead Managers, Co-Manager or an NZX Participant, and must be obtained by investors before they decide to acquire any Bonds. The Bonds are expected to be quoted on the NZX Debt Market and have a long term credit rating of BBB+ from Standard & Poor's. The Bonds have a maturity date of 20 March 2024 and the indicative margin for the Bonds is 1.50 to 1.60 percent per annum. The margin (which may be above or below the indicative margin) and interest rate will be set following a bookbuild process on 10 March 2017 and will be announced by Meridian via NZX shortly thereafter. The offer will close on 10 March 2017 following the bookbuild process, with the Bonds expected to be issued on 20 March 2017. There is no public pool for the Bonds, which will be reserved for the clients of Bank of New Zealand, Westpac Banking Corporation (acting through its New Zealand branch), Deutsche Craigs Limited and NZX participants. End CA:00297845 For:MEL Type:GENERAL Time:2017-03-06 08:31:33