24 Aug 2020
Transpower New Zealand Limited (Transpower) gives notice under clause 20(1)(a) of schedule 8 of the Financial Markets Conduct Regulations 2014 (Regulations) that it proposes to make an offer of fixed rate bonds due 4 September 2025 (Bonds) in reliance upon the exclusion in clause 19 of schedule 1 of the Financial Markets Conduct Act 2013 (FMCA).
The main terms of the Bonds are set out in Pricing Supplement (No. 14) which is attached.
The Bonds will form part of the same tranche (and will have identical rights, privileges, limitations and conditions) as Transpower’s NZ$150,000,000 fixed rate bonds maturing on 4 September 2025 with an interest rate of 1.735%, which are quoted on the NZX Debt Market under the ticker code TRP070 (TRP070 Bonds).
In addition, except for the interest rate and maturity date, the Bonds will have identical rights, privileges, limitations and conditions as Transpower’s:
- NZ$150,000,000 fixed rate bonds maturing on 30 June 2022, which are quoted on the NZX Debt Market under the ticker code TRP030;
- NZ$100,000,000 fixed rate bonds maturing on 16 September 2022, which are quoted on the NZX Debt Market under the ticker code TRP040;
- NZ$125,000,000 fixed rate bonds maturing on 6 March 2025, which are quoted on the NZX Debt Market under the ticker code TRP050; and
- NZ$150,000,000 fixed rate bonds maturing on 14 March 2024, which are quoted on the NZX Debt Market under the ticker code TRP060,
(together with the TRP070 Bonds, Quoted Bonds) and therefore are of the same class as the Quoted Bonds for the purposes of the FMCA and the Regulations. The Quoted Bonds have been continuously quoted on the NZX Debt Market over the preceding 3 months.
As at the date of this notice, Transpower is in compliance with:
(a) the continuous disclosure obligations that apply to it in relation to the Quoted Bonds; and
(b) its financial reporting obligations (as defined in the Regulations).
As at the date of this notice, there is no excluded information required to be disclosed for the purposes of the Regulations.
As at the date of this notice, there is no information that would be required to be disclosed under a continuous disclosure obligation or which would be excluded information required to be disclosed for the purposes of the Regulations if the Quoted Bonds had had the same redemption date or interest rate as the Bonds being offered (as applicable).
For further information, please contact:
Deborah Gray, Corporate Communications Manager, Transpower 021 195 8613
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