Mercury considers Green Bond offer

Mercury NZ Limited (Mercury) is considering making an offer of up to $100 million (with the ability to accept up to an additional $50 million of oversubscriptions at Mercury's discretion) of 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 near future, subject to market conditions. Mercury has a corporate credit rating from S&P Global Ratings of BBB+ (stable outlook). The Green Bonds, if issued, are expected to be assigned an issue credit rating of BBB+ by S&P Global Ratings. 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. Mercury has appointed ANZ Bank New Zealand Limited as Arranger and Green Bond Co-ordinator, and ANZ Bank New Zealand Limited, Craigs Investment Partners Limited and Forsyth Barr Limited as Joint Lead Managers in relation to the offer. 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. Indications of interest will not constitute an obligation or commitment of any kind. No money is currently being sought and no Green Bonds can be applied for or acquired until the offer opens. 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. 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: ANZ - 0800 269 476 Joint Lead Managers: Craigs Investment Partners - 0800 226 263 Forsyth Barr - 0800 367 227 ENDS Howard Thomas General Counsel and Company Secretary Mercury NZ Limited For investor relations queries, please contact: Paul Ruediger Head of Business Performance and Investor Relations 0275 173 470 investor@mercury.co.nz For media queries, please contact: Shannon Goldstone Head of Communications 027 210 5337 media@mercury.co.nz End CA:00412153 For:MCY Type:GENERAL Time:2023-05-29 08:30:49