SPK
30/11/2015 15:19
GENERAL
NOT PRICE SENSITIVE
REL: 1519 HRS Spark New Zealand Limited
GENERAL: SPK: Spark Finance launches fixed rate retail bond offer
Market Announcement
30 November 2015
Spark Finance launches fixed rate retail bond offer
Spark Finance Limited (SFL) announced today that it is offering up to
NZ$100,000,000 unsecured, unsubordinated fixed rate bonds (Bonds) to
institutional and New Zealand retail investors, with the ability to accept up
to $50,000,000 oversubscriptions at SFL's discretion. The offer opens today.
SFL is the company in the Spark New Zealand group that carries out the
borrowing activities for the group.
Full details of the Bond offer are contained in the Product Disclosure
Statement (PDS). The PDS is available through http://investors.sparknz.co.nz/
or by contacting a Joint Lead Manager or the Co-Manager as set out below, and
must be obtained by investors before they decide to acquire any Bonds.
There are restrictions on offering, issuing or selling the Bonds outside New
Zealand, as set out in the PDS.
The Bonds are expected to be quoted on the NZX Debt Market and have a long
term credit rating of A- from Standard & Poor's.
The Bonds have a maturity date of 10 March 2023 and the indicative margin for
the Bonds is 1.10-1.15 percent per annum. The margin (which may be above or
below the indicative margin) and interest rate will be set following a
bookbuild process on 4 December 2015 and announced via NZX shortly
thereafter. The offer will close on 4 December 2015 following the bookbuild
process, with the Bonds expected to be issued on 10 December 2015.
There is no public pool for the Bonds, with 100 percent of Bonds reserved for
clients of ANZ and Commonwealth Bank (as Joint Lead Managers), Deutsche
Craigs (as Co-Manager), NZX participants and other financial intermediaries.
Joint Lead Managers
ANZ
Phone: 0800 269 476
Commonwealth Bank
Phone: 0800 272 633
Co-Manager
DeutscheCraigs
Phone: 0800 226 263
-ENDS-
For media queries, please contact:
Richard Llewellyn
Head of Corporate Communications +64 (0) 27 523 2362
For investor relations queries, please contact:
Stefan Knight
General Manager Finance and Business Performance +64 (0) 27 252 9438
End CA:00274369 For:SPK Type:GENERAL Time:2015-11-30 15:19:39
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