SPK
20/11/2015 12:16
GENERAL
PRICE SENSITIVE
REL: 1216 HRS Spark New Zealand Limited
GENERAL: SPK: Spark Finance lodges PDS for bond offer
Market Announcement
20 November 2015
Spark Finance lodges Product Disclosure Statement for bond offer
Spark Finance Limited (SFL) announced today that it has lodged a Product
Disclosure Statement (PDS) for the offer of 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 is expected to open on 30
November 2015.
SFL is the company in the Spark New Zealand group that carries out the
borrowing activities for the group.
Details of the Bond offer are contained in the 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 expected to be 1.00-1.15 percent per annum. The actual margin
is expected to be announced on 4 December 2015.
There is no public pool for the Bonds, with 100 percent of Bonds reserved for
the 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 Bank New Zealand Limited
Phone: 0800 269 476
Commonwealth Bank of Australia
Phone: 0800 272 633
Co-Manager
Deutsche Craigs Limited
Phone: 0800 226 263
-ENDS-
For media queries, please contact:
Andrew Pirie
General Manager Corporate Relations +64 (0) 27 555 0275
For investor relations queries, please contact:
Stefan Knight
General Manager Finance and Business Performance +64 (0) 27 252 9438
End CA:00273817 For:SPK Type:GENERAL Time:2015-11-20 12:16:54
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.
