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- Release Date: 02/08/13 12:46
- Summary: GENERAL: CNU: Chorus enters new $250m bank facility
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CNU
02/08/2013 10:46
GENERAL
REL: 1046 HRS Chorus Limited (NS)
GENERAL: CNU: Chorus enters new $250m bank facility
STOCK EXCHANGE ANNOUNCEMENT
2 August 2013
Chorus enters new $250m bank facility
Chorus has today entered into an agreement for a new $250 million bank
facility which, subject to standard conditions, will be used to pay down
drawings under its existing bank facility.
Chorus' existing syndicated bank facility comprises two equal tranches of
$675 million, due to mature in November 2015 and November 2017 respectively.
The new facility extends Chorus' debt maturity profile with a 2019 maturity
date.
Chorus CFO Andrew Carroll said Chorus was pleased to have secured the funding
through to 2019 on substantially the same financial terms.
"We appreciate the support of the small group of banking partners who put the
facility in place despite the ongoing uncertainty we are experiencing in the
current regulatory environment.
"As well as enabling us to extend our debt maturity profile, the new facility
will provide additional financial flexibility as Chorus continues to invest
heavily in New Zealand's fibre future through the UFB rollout," he said.
ENDS
For further information:
Ian Bonnar
Corporate Affairs Manager
Phone: +64 9 358 6061
Mobile: +64 (27) 215 7564
Email: [email protected]
Brett Jackson
Investor Relations Manager
Phone: +64 4 498 9271
Mobile: +64 (27) 488 7808
Email: [email protected]
End CA:00239247 For:CNU Type:GENERAL Time:2013-08-02 10:46:42
