Christchurch City Holdings launches retail bond offer

Christchurch City Holdings Limited (CCHL) confirmed today that it is offering up to NZ$100,000,000 of 5 year, unsecured, unsubordinated, fixed rate bonds (with the ability to accept up to NZ$50,000,000 in oversubscriptions at CCHL's discretion) (the Bonds) to New Zealand retail investors and to institutional investors. The offer opens today and will be 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 Bonds are expected to be quoted on the NZX Debt Market. Full details of the bond offer are contained in the indicative terms sheet, which is attached and available through www.cchl.co.nz/bond-offer. The offer will open with an indicative margin range of 0.70% to 0.77% per annum and the Bonds will mature on 6 April 2028. An announcement of the actual margin (which may be above or below the indicative margin range) and the interest rate on the Bonds will be made following the conclusion of the bookbuild process, which is expected to be on 30 March 2023. The terms sheet will be updated to include the interest rate and will be released on the same day. The Bonds are expected to be assigned a long term credit rating of AA by S&P Global Ratings. There is no public pool for the offer, with 100% of the Bonds reserved for clients of the Joint Lead Managers, NZX participants, other approved financial intermediaries and institutional investors. The offer will close on 30 March 2023 following the completion of the bookbuild process. Interested investors should contact the Joint Lead Managers or their usual financial advice provider for more details. ENDS For further information: Toni Rowell Chief Financial Officer Phone: +64 3 941 8374 Mobile: +64 21 896 486 Email: toni.rowell@cchl.co.nz End CA:00409073 For:CCH Type:OFFER Time:2023-03-28 09:56:30