Channel issues notice to redeem Subordinated Notes

Channel Infrastructure NZ Limited (Channel Infrastructure) confirmed today that it has issued a notice to redeem all of its subordinated notes which are quoted on the NZX Debt Market under the ticker code CHI010 (Subordinated Notes) on 1 March 2024. For each Subordinated Note redeemed on 1 March 2024, Channel Infrastructure will pay to the relevant holder an amount equal to the principal amount of the Subordinated Note ($1.00) plus the final semi-annual interest payment. The planned redemption of the Subordinated Notes follows the successful completion of the offer of $100 million of 6 year, unsecured, unsubordinated, fixed rate bonds (Bonds) announced on 30 October 2023 (Offer). In connection with the Offer, $20,099,000 of Subordinated Notes were purchased by Channel Infrastructure in exchange for Bonds on a one-for-one basis at a face value of $1.00. All Subordinated Notes purchased by Channel Infrastructure under that exchange mechanism have been cancelled. This has reduced the total number of Subordinated Notes on issue from 75,000,000 Subordinated Notes to 54,901,000 Subordinated Notes. That reduction in the number of quoted Subordinated Notes may impact trading of those Subordinated Notes on the secondary NZX Debt Market. A copy of the redemption notice issued to holders of Subordinated Notes has been provided with this announcement. -ENDS- Authorised by: Chris Bougen General Counsel and Company Secretary Contact details: Investor Relations contact: Anna Bonney investorrelations@channelnz.com Media contact: Laura Malcolm communications@channelnz.com End CA:00421636 For:CHI Type:SECISSUE Time:2023-11-14 11:24:21