Mercury considers green bond offer

Mercury NZ Limited (Mercury) is considering making an offer (Offer) of up to $200 million (with the ability to accept up to an additional $50 million of oversubscriptions at Mercury's discretion) of 5.5 year unsecured, unsubordinated fixed rate green bonds (Green Bonds) to institutional investors and New Zealand retail investors. It is expected that full details of the Offer will be released in the week commencing 15 March 2021, when the Offer is expected to open. Mercury has a corporate credit rating from S&P Global Ratings of BBB+ (stable outlook). The Green Bonds are expected to be assigned a credit rating of BBB+. The proceeds of the Green Bonds are intended to be earmarked to finance and refinance Eligible Projects in accordance with Mercury's Green Financing Framework dated August 2020. In relation to the Offer, Mercury has appointed Westpac Banking Corporation (ABN 33 007 457 141) (acting through its New Zealand branch) (Westpac) as Arranger and Green Bond Co-ordinator, and ANZ Bank New Zealand Limited, Craigs Investment Partners Limited, Forsyth Barr Limited and Westpac as Joint Lead Managers. There is no public pool for the Offer, with all of the Green Bonds being reserved for clients of the Joint Lead Managers, NZX participants and other approved financial intermediaries. Investors can register their interest by contacting a Joint Lead Manager or their usual financial adviser. This Offer is being made in accordance with the Financial Markets Conduct Act 2013 and the Green Bonds are expected to be quoted on the NZX Debt Market. Arranger, Green Bond Co-ordinator for this offer and Joint Lead Manager: Westpac - 0800 772 142 Joint Lead Managers: ANZ Bank New Zealand Limited - 0800 269 476 Craigs Investment Partners Limited - 0800 226 263 Forsyth Barr Limited - 0800 367 227 ENDS For further information: Media - Craig Dowling 0272 105 337 Investors - Tim Thompson 0275 173 470 End CA:00368722 For:MCY Type:GENERAL Time:2021-03-08 09:02:04