FCG
13/04/2015 09:17
GENERAL
PRICE SENSITIVE
REL: 0917 HRS Fonterra Co-operative Group Limited
GENERAL: FCG: Fonterra launches Bond Offer
13 APRIL 2015
FONTERRA LAUNCHES BOND OFFER
Fonterra Co-operative Group Limited confirmed today that it is offering
NZ$250 million of senior bonds to institutional investors and to New Zealand
retail investors, including an option to accept unlimited oversubscriptions
at its discretion.
The offer opens today and will be made pursuant to the Financial Markets
Conduct Act 2013 as an offer of debt securities of the same class as existing
quoted debt securities. The notice required by the Financial Markets Conduct
Regulations 2014 has been provided to NZX and is attached. The bonds are
expected to be quoted on the NZX Debt Market.
Full details of the bond issue are contained in the terms sheet which has
been prepared for the offer and is attached.
The offer will open with the indicative margin in the area of 0.75 per cent
for the bonds maturing on 20 October 2021. An announcement of the actual
margin (which may be above or below the abovementioned indicative margin) and
the interest rate on the bonds will be made following the bookbuild process,
expected to be on 15 April 2015. The terms sheet will be updated to include
the interest rate and will be released on the same day.
The bonds are expected to be quoted on the NZX Debt Market and are expected
to be assigned a long term credit rating of A by Standard and Poor's and AA-
by Fitch.
There is no public pool for the offer, with 100 per cent of the bonds
reserved for institutional investors and clients of primary market
participants (e.g. broking firms accredited by NZX to participate in NZX
markets). The offer will close on 15 April 2015 following the bookbuild
process. Fonterra has the ability to accept unlimited oversubscriptions in
the bookbuild. Interested investors should contact their usual financial
advisor for more details.
-end-
Simon Till
Group Treasurer, Fonterra
Phone: (09) 374 9344
ANZ
0800 269 476
BNZ
0800 284 017
CBA
0800 272 633
Westpac
0800 942 822
End CA:00262998 For:FCG Type:GENERAL Time:2015-04-13 09:17:24
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