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- Release Date: 14/08/12 16:23
- Summary: GENERAL: TPW: Subordinated Bond Offer - Public Pool Fully Subscribed
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TPW
14/08/2012 14:23
GENERAL
REL: 1423 HRS TrustPower Limited
GENERAL: TPW: Subordinated Bond Offer - Public Pool Fully Subscribed
14 August 2012
TrustPower subordinated bond offer - public pool fully subscribed
TrustPower makes the following announcement with respect to its offer of
unsecured, subordinated fixed rate bonds (the Bond Offer) pursuant to the
simplified disclosure prospectus dated 26 July 2012 (the Prospectus).
The General Offer was limited to $75 million, with the ability for TrustPower
to accept oversubscriptions of up to a further $50 million. TrustPower is
very pleased with the positive response to the Bond Offer and has already
received applications in respect of the General Offer through the public pool
in excess of $2.5 million. Together with firm allocations from market
participants and institutions of $72.5 million, this means total applications
accepted and firm allocations reserved in respect of the General Offer are
$75 million.
TrustPower has not yet decided whether or not oversubscriptions will be
accepted in relation to the General Offer. This decision will be made after
the Exchange Offer Closing Date (expected to be 29 August 2012, or such other
date as TrustPower may determine). Applications will continue to be received
on a first come, first served basis in respect of the public pool component
of the General Offer, however no payments will be processed until TrustPower
has decided whether or not oversubscriptions will be accepted. If TrustPower
decides not to accept oversubscriptions, any cheques received in respect of
applications which are not successful will be returned to the applicant.
Applications may continue to be made in respect of firm allocations under the
General Offer and the Exchange Offer.
Applicants accepting a firm allocation must return a completed application
form (with payment) to the office of the relevant market participant to
enable forwarding to the Registrar before 5.00pm on the General Offer Closing
Date (11 September 2012).
Vince Hawksworth
Chief Executive
End CA:00225932 For:TPW Type:GENERAL Time:2012-08-14 14:23:30
