WHS
08/05/2015 08:30
PDS
PRICE SENSITIVE
REL: 0830 HRS The Warehouse Group Limited
PDS: WHS: WHS Senior Bond Offer Announced
Auckland, 8th May 2015
Senior Bond Offer Announced
The Warehouse Group Limited (WHS) today announced an offer of five year
unsecured, unsubordinated, fixed rate bonds (Bonds) to refinance its $100
million senior bond maturing on 15 June 2015 (Maturing Bond) and for general
corporate purposes.
The offer will be seeking to raise up to $100 million, and consists of:
o a General Offer of up to $75 million, open to institutional investors and
members of the public resident in New Zealand; and
o an Exchange Offer of up to $25 million, open to holders of the Maturing
Bonds resident in New Zealand.
WHS also has the ability to accept oversubscriptions across the two offers at
its discretion to bring the total issue size up to $125 million.
The Bonds are unsecured unsubordinated bonds that rank equally with WHS'
existing bank facilities. Interest on the Bonds will be paid semi-annually in
arrears, with the first interest payment to be made on 15 December 2015. Full
details of the Bonds are contained in the Product Disclosure Statement.
The interest rate for the Bonds will be set though a bookbuild process on
Tuesday 19 May, and announced via NZX shortly thereafter. The indicative
interest rate range for the Bonds is 5.30% to 5.55% per annum.
The offer is expected to open on 20 May 2015. The Exchange Offer is scheduled
to close on 5 June 2015, and the General Offer is scheduled to close on 10
June 2015.
Applications under the General Offer can only be made on the application form
in the Product Disclosure Statement. Interested investors should contact one
of the Joint Lead Managers to the offer (listed below) or their usual
financial adviser for details on how to participate in the General Offer
because there is no certainty that there will be a public pool for the Bonds.
o Deutsche Craigs 0800 226 263
o ANZ 0800 269 476
o BNZ 0800 284 017
Holders of the Maturing Bonds will be sent a letter on or around 19 May 2015
with a Product Disclosure Statement and a personalised application form to
enable them to participate in the Exchange Offer. If they wish to subscribe
for a greater amount of Bonds than their current holding in the Maturing
Bonds, then they should contact one of the Joint Lead Managers or their usual
financial adviser for details of how to participate in the General Offer in
respect of such additional amount because there is no certainty that there
will be a public pool for the Bonds.
For further information please contact:
Media: Mark Powell, Group CEO
To be contacted via Gayle Theunissen on +64 9 489 8900,
Extn 96333 or +64 21 742 784
Investors and Analysts: Mark Yeoman, Group CFO +64 21 778 404
End CA:00264078 For:WHS Type:PDS Time:2015-05-08 08:30:36
