Meridian issues Australian $400m Green Medium Term Notes

Meridian Energy Limited (Meridian) has today completed an issue of A$400 million fixed rate green medium term notes under its wholesale Australian Medium Term Note (AMTN) programme. The notes carry a fixed coupon of 6.214% (with an issue margin over benchmark of 145 basis points) per annum and mature on 31 March 2033. The proceeds from the new notes will be used by Meridian for investment in green assets in accordance with its Sustainable Finance Framework. The issuance was significantly over-subscribed and met Meridian’s objective of maintaining diversity in its debt investor base. The transaction was open to institutional investors only and has been rated BBB+ by S&P Global Ratings. Australia and New Zealand Banking Group Limited, Commonwealth Bank of Australia and Westpac Banking Corporation acted as joint lead managers on the transaction.