MRP
17/06/2014 16:43
GENERAL
REL: 1643 HRS Mighty River Power Limited (NS)
GENERAL: MRP: Successful completion of bookbuild for Capital Bond offer
Mighty River Power today announced the successful completion of the bookbuild
process for its Capital Bond offer and a minimum interest rate set at 6.80%.
Chief Financial Officer, William Meek, said the bookbuild was well supported
and $280 million of unsecured subordinated Capital Bonds have been reserved
for clients of participants in the bookbuild process who received firm
allocations.
Recognising that some New Zealanders will not have a broking relationship,
Mighty River Power has made the balance of the offer ($20 million) available
to a public pool. Preference in the public pool will be given to existing
shareholders if scaling is required.
The minimum interest rate in the first five years for the Capital Bonds has
been set at 6.80% per annum and the initial margin is 2.25% per annum. The
interest rate until the first reset date will be set on 9 July 2014 as the
higher of the:
o minimum interest rate (6.80%); or
o five year swap rate plus the initial margin.
The offer opens tomorrow and closes on Tuesday 8 July 2014 at 5pm and is only
available to New Zealand residents. Successful applicants will be paid 'early
bird' interest at the interest rate from the date their application monies
are banked to the issue date. This interest will be paid as soon as
practicable following the issue date.
Applications for Capital Bonds must be made using the form included in the
Simplified Disclosure Prospectus. Interested investors should contact one of
the Joint Lead Managers to the offer (listed below) or an Authorised
Financial Advisor to request a free copy of the Simplified Disclosure
Prospectus, which can also be viewed on www.mrpcapitalbonds.co.nz
o Forsyth Barr 0800 367 227
o ANZ 0800 269 476
o Deutsche Craigs 0800 226 263
o Goldman Sachs 0800 555 555
Attached is a letter that will be sent to New Zealand resident shareholders,
who are eligible to take part in the offer.
End CA:00251697 For:MRP Type:GENERAL Time:2014-06-17 16:43:28
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
