Ann: PROSPECT: CEN: CEN registers Prospectus for

• Release Date: 18/02/14 18:40
• Summary: PROSPECT: CEN: CEN registers Prospectus for Bond Offer to NZ investors
• Price Sensitive: No
• Download Document  3.63KB

					CEN
18/02/2014 16:40
PROSPECT

REL: 1640 HRS Contact Energy Limited

PROSPECT: CEN: CEN registers Prospectus for Bond Offer to NZ investors

18 February 2014

Contact Energy registers Prospectus for Bond Offer to New Zealand investors

Contact Energy Limited ("Contact") has registered a Simplified Disclosure
Prospectus ("SDP") for an offer of fixed rate, unsecured, unsubordinated
bonds ("2014 Bonds") of up to $200 million with the ability to accept another
$50 million in oversubscriptions.

The 2014 Bonds will have a maturity date of 15 May 2019, with a fixed rate of
interest to be determined following the Rate Setting Mechanism as outlined in
the SDP, expected to be in the range of 5.80% - 6.00% per annum. Contact is
rated 'BBB' (stable) by Standard & Poor's, with the 2014 Bonds also expected
to be assigned an initial credit rating of 'BBB'.

Contact currently has approximately $534 million of bonds on issue maturing
on 15 May 2014 (the "2009 Bonds"). Existing investors in the 2009 Bonds
("Existing Bondholders") will be given the opportunity to reinvest in the
2014 Bonds on a one-for-one basis via an Exchange Offer and to apply for
further 2014 Bonds.  New investors will also be able to apply for 2014 Bonds
via a General Offer.

Existing Bondholders who exchange their 2009 Bonds will still receive the
final interest payment that would have been paid on their 2009 Bonds on 15
May 2014 at the current rate applying to these bonds of 8.00% per annum.
Accordingly no interest will accrue in relation to 2014 Bonds issued under
the Exchange Offer until 15 May 2014. For General Offer applicants, interest
paid on the first Interest Payment Date will be paid to the original
subscriber.

The offer opens on 26 February 2014, with the Exchange Offer expecting to
close on 13 March 2014 and the General Offer on 20 March 2014.

Forsyth Barr Limited has been appointed as Arranger, Organising Participant
and Joint Lead Manager to the offer. ANZ Bank New Zealand Limited, Deutsche
Craigs Limited and First NZ Capital Securities Limited have been appointed
Joint Lead Managers, and Commonwealth Bank of Australia Limited has been
appointed Co-manager.

Applications for 2014 Bonds can only be made using an application form with
the SDP. All New Zealand resident Existing Bondholders as at 24 February 2014
will be sent a SDP and other documentation in relation to the offer. Other
investors should contact the Joint Lead Managers or any NZX firm or other
financial advisor to request a copy of the SDP.  A copy of the SDP can also
be found free of charge at www.contactenergy.co.nz

Application has been made to NZX for permission to quote the 2014 Bonds on
the NZX Debt Market and all the requirements of NZX relating thereto that can
be complied with on or before the date of this announcement have been duly
complied with. However, NZX accepts no responsibility for any statement in
this announcement. The NZDX is a registered market operated by NZX which is a
registered exchange, regulated under the Securities Markets Act 1988.

To facilitate the Exchange Offer, NZX has confirmed that trading in the 2009
Bonds is to be halted at market close on Wednesday, 19 February 2014, with
trading expected to resume on or before Thursday, 20 March 2014.

For further information contact the Joint Lead Managers at:
-  Forsyth Barr 0800 367 227 or at www.forsythbarr.co.nz
-  ANZ 0800 269 476 or at www.anz.co.nz/ipo
-  Deutsche Craigs 0800 226 263 or at www.craigsip.com
-  First NZ Capital 0800 005 678 or at www.firstnzcapital.co.nz

ENDS

Investor enquiries: Fraser Gardiner 021 228 3688

Media enquiries: Shaun Jones 021 204 4521
End CA:00247131 For:CEN    Type:PROSPECT   Time:2014-02-18 16:40:11