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Ann: GENERAL: CNU: Chorus lodges product disclosure statement for bond offer

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    • Release Date: 30/03/16 11:48
    • Summary: GENERAL: CNU: Chorus lodges product disclosure statement for bond offer
    • Price Sensitive: No
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    					CNU
    30/03/2016 11:48
    GENERAL
    PRICE SENSITIVE
    REL: 1148 HRS Chorus Limited (NS)
    
    GENERAL: CNU: Chorus lodges product disclosure statement for bond offer
    
    STOCK EXCHANGE ANNOUNCEMENT
    
    30 March 2016
    
    Chorus lodges product disclosure statement for bond offer
    
    Chorus has announced an offer of up to $300 million (with the ability to
    accept up to $100 million of oversubscriptions at Chorus' discretion) of five
    year, unsecured, unsubordinated, fixed rate bonds maturing on 6 May 2021 to
    institutional investors and New Zealand retail investors.  The offer is
    expected to open 14 April 2016 and to close on 4 May 2016.
    
    The bonds are expected to be quoted on the NZX Debt Market and expected to be
    assigned a BBB rating by Standard & Poor's and Baa2 by Moody's.
    
    Chorus has appointed ANZ and Westpac Banking Corporation (acting through its
    New Zealand branch) as Joint Lead Managers, and Bank of New Zealand, Deutsche
    Craigs, First NZ Capital, Forsyth Barr and Macquarie Capital, as Co-Managers
    in relation to the offer.
    
    Full details of the offer are contained in the Product Disclosure Statement
    (PDS) which was lodged today. The PDS is available through
    www.chorus.co.nz/nz-retail-bond-offer or by contacting a Joint Lead Manager
    or the Co-Managers, and must be obtained by investors before they decide to
    acquire any bonds. There are restrictions on offering, issuing or selling
    bonds outside New Zealand, as set out in the Disclose Register
    www.business.govt.nz/disclose.
    
    There is no public pool for the offer, with all of the bonds being reserved
    for clients of the Joint Lead Managers, Co-Managers, NZX participants and
    other approved financial intermediaries.
    
    Interested investors should contact the Joint Lead Managers, the Co-Managers
    or their usual financial advisor for more details.
    
    Joint Lead Managers
    ANZ - 0800 269 476
    Westpac Banking Corporation (acting through its New Zealand branch) - 0800
    942 822
    
    Co-Managers
    Bank of New Zealand - 0800 248 017
    Deutsche Craigs - 0800 226 263
    First NZ Capital - 0800 005 678
    Forsyth Barr - 0800 367 227
    Macquarie Capital - 0800 742 737
    
    ENDS
    
    For further information:
    Andrew Hopkinson
    Treasurer
    Phone: +64 4 896 4014
    Mobile: +64 (27) 249 5678
    Email: [email protected]
    
    Brett Jackson
    Investor Relations Manager
    Phone: +64 4 896 4039
    Mobile: +64 (27) 488 7808
    Email: [email protected]
    End CA:00280017 For:CNU    Type:GENERAL    Time:2016-03-30 11:48:13
    				
 
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