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Meridian Energy Limited, 4.20%, 7 Year Fixed Rate Bonds

Meridian Energy Limited (Meridian) confirmed today that it is offering up to $150 million (plus up to $50 million of over-subscriptions) of unsecured, unsubordinated fixed-rate bonds maturing on 27 June 2025 to institutional and New Zealand retail investors.

Summarised details of the offers are below.

Issuer:                 Meridian Energy Limited

Description:        Unsecured, unsubordinated, fixed rate bonds

Maturity Date:     Friday, 27 June 2025 (7 Year)

Expected Issue Rating:  BBB+ S&P Global Ratings

Size:                     Up to $150 million with the ability to accept oversubscriptions of up to $50 million at Meridian’s discretion

Interest Rate:     TBA

The Interest Rate will be the sum of the Issue Margin and the Base Rate, but in any case will be no less than the minimum Interest Rate of 4.20% per annum. The Interest Rate will be announced by Meridian via NZX on or shortly after the Rate Set Date.

Minimum Application: $5,000

Interest Payments: Interest will be payable semi-annually in arrear in equal amounts on 27 June  and 27 December of each year up to and including the Maturity Date.

Listing:  Application has been made to NZX to quote the Bonds on the NZX Debt Market, ticker code MEL050.

Brokerage:  Brokerage payable by investors

PLEASE NOTE: There is no public pool therefore there is no official retail application. If you are a retail investor, please contact your adviser or broker to assist you in sourcing this, as this is an institutional offering.


Important Dates 

Opening Date:   Monday, 11 June 2018

Closing Date:     Friday 2:00pm, 15 June 2018

Rate Set Date:    Friday, 15 June 2018

Issue Date:         Wednesday, 27 June 2018

Quotation            Thursday, 28 June 2018

If you wish to bid through us, please advise your demand number by no later than 12.00pm Friday, 15 June 2018.


Terms Sheet


We strongly recommend you discuss with your adviser at Equity Investment Advisers Ltd to ensure you understand the terms and conditions.

If this offer is of interest to you please register your interest  below so that we can contact you

Expression of Interest click here

Registering your interest does not have any obligation to purchase these bonds. No money is sought at this point.

Please note the allocation may be scaled depending on availability.