Auckland Council launches green bond offer

Auckland Council (Council) has announced today that it is offering secured, unsubordinated six year fixed rate green bonds (Green Bonds) to New Zealand retail investors and to institutional investors. The offer is being made pursuant to the Financial Markets Conduct Act 2013 as an offer of debt securities of the same class as existing quoted debt securities. The notice required by the Financial Markets Conduct Regulations 2014 has been provided to NZX and is attached. The Green Bonds are expected to be quoted on the NZX Debt Market. The offer is for up to NZ$100 million (with the ability to accept up to NZ$50 million in oversubscriptions at the Council's discretion) of Green Bonds, maturing on 10 July 2025. Full details of the offer are set out in the attached Terms Sheet. The indicative issue margin for the Green Bonds is 0.55% to 0.59% per annum. The offer is expected to close on 3 July 2019 following the bookbuild process. An NZX announcement of the issue margin, interest rate and issue amount is expected to be made on 3 July 2019, shortly after the offer has closed. The Green Bonds are expected to be issued on 10 July 2019. The Green Bonds are expected to be quoted on the NZX Debt Market and are expected to be assigned a long term credit rating of AA by S&P Global Ratings and Aa2 by Moody's. Green Bonds issued by Council are certified by the Climate Bonds Initiative and issued in accordance with Council's Green Bond Framework. There is no public pool for the offer, with 100 per cent of the Green Bonds reserved for clients of ANZ Bank New Zealand Limited and Bank of New Zealand (as Joint Lead Managers), NZX participants and other approved financial intermediaries. Interested investors should contact the Joint Lead Managers (details below) or their usual financial adviser for more details. Joint Lead Managers: ANZ Bank New Zealand Limited 0800 269 476 Bank of New Zealand 0800 284 017 Ends For assistance, please contact: Emma Quantrill Senior Specialist Corporate Communication Mobile +64 21 571 283 Auckland Council, Level 13, 135 Albert Street, Auckland End CA:00336878 For:AKC Type:OFFER Time:2019-07-01 08:30:22