Share
- Release Date: 14/06/13 15:10
- Summary: GENERAL: CEN: CEN secures long term funding with US investors
- Price Sensitive: No
- Download Document 1.43KB
CEN
14/06/2013 13:10
GENERAL
REL: 1310 HRS Contact Energy Limited
GENERAL: CEN: CEN secures long term funding with US investors
14 June 2013
Contact Energy secures long term funding with US investors
Contact Energy announces that it has raised US$240 million in long term debt
through a private placement with US investors.
The private placement has maturities of seven, ten, twelve and fifteen years,
with a weighted average tenor of 11 years. The proceeds will be drawn down in
September and December 2013 and used to refinance maturing debt facilities.
Proceeds from the issue will be converted into approximately NZ$300 million.
All foreign currency cash flows through to maturity have been hedged back to
New Zealand dollars at floating interest rates.
Contact Energy's Treasurer, Louise Tong said "that the company has previously
accessed this market for longer term funding and was pleased to see continued
support from the market. This transaction allows us to extend our debt
maturity profile, which suits the long term nature of our business, and
maintain a diversity of funding sources. We are especially pleased that we
have been able to arrange the funding with deferred starts, enabling us to
better match the draw downs with maturing debt."
Co-Agents on the transaction were CBA and J.P. Morgan/ANZ Securities.
ENDS
Investor enquiries: Fraser Gardiner 021 228 3688
End CA:00237424 For:CEN Type:GENERAL Time:2013-06-14 13:10:44
