FSF
22/02/2016 09:04
GENERAL
PRICE SENSITIVE
REL: 0904 HRS Fonterra Shareholders' Fund (NS)
GENERAL: FSF: Fonterra Launches Bond Offer
Fonterra Co-operative Group Limited confirmed today that it is offering up to
NZ$150 million of senior fixed rate bonds to institutional investors and to
New Zealand retail investors.
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 offer are contained in the terms sheet which has
been prepared for the offer and is attached.
The offer will open with an indicative margin of 1.45 to 1.60 per cent per
annum. The bonds are expected to mature on 7 March 2023. An announcement of
the actual margin (which may be above or below the abovementioned indicative
margin range) and the interest rate on the bonds will be made following the
bookbuild process, expected to be on 26 February 2016. The terms sheet will
be updated to include the interest rate and will be released with the
announcement.
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 A
by Fitch.
There is no public pool for the offer, with 100 per cent of the bonds
reserved for institutional investors, clients of the lead manager, the
co-manager and primary market participants (e.g. broking firms accredited by
NZX to participate in NZX markets). The offer will close on 26 February 2016
following the bookbuild process. Interested investors should contact the lead
manager, the co-manager, their broker or their financial advisor for more
details.
-end-
Simon Till
Director Capital Markets, Fonterra
Phone: (09) 374 9344
ANZ
0800 269 476
Deutsche Craigs
0800 226 263
End CA:00278046 For:FSF Type:GENERAL Time:2016-02-22 09:04:25
