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- Release Date: 18/10/13 11:37
- Summary: INTEREST: CENFA: Contact Energy Capital Bonds due 2042 - Redemption
- Price Sensitive: No
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CEN
18/10/2013 09:37
INTEREST
REL: 0937 HRS Contact Energy Limited
INTEREST: CENFA: Contact Energy Capital Bonds due 2042 - Redemption
18 October 2013
Contact Energy Capital Bonds due 2042 - Redemption
Standard and Poor's has changed the criteria for assessing the equity content
of hybrid securities. As a result of this change, the Contact Energy Capital
Bonds due 2042 (Capital Bonds) traded on the NZDX under code CENFA no longer
meet the criteria for "high" equity content and will be assigned a lower
equity content.
The change in equity content, as a result of the criteria change, is a
"Rating Agency Event" under the terms and conditions of the Capital Bonds.
As a consequence, Contact Energy is entitled to redeem the Capital Bonds on
the next interest payment date following notice of redemption to bondholders
at par plus accrued interest.
Contact Energy has elected to redeem all of the outstanding Capital Bonds on
15 November 2013, being the next interest payment date. Contact Energy will
shortly provide written notice of redemption to all bondholders.
Contact Energy will use bank facilities and existing funds held on deposit to
fund the redemption.
This redemption does not apply to any other bonds issued by Contact Energy.
ENDS
For further information please contact:
Louise Tong
Corporate Treasurer
021 444 224
Fraser Gardiner
Head of Investor Relations and Strategy
021 228 3688
End CA:00242544 For:CEN Type:INTEREST Time:2013-10-18 09:37:22
