Mercury capital bond offer – interest rate set

Mercury NZ Limited (Mercury) today announced that, following a bookbuild for its offer of unsecured, subordinated capital bonds (Capital Bonds), $250 million of Capital Bonds have been allocated to participants (or their clients) in the bookbuild process. This includes oversubscriptions of $50 million. There was no public pool for the offer.

The interest rate for the Capital Bonds to the First Reset Date (13 May 2027) will be 5.73% per annum, which reflects a margin of 1.70% per annum over the underlying swap rate of 4.03% per annum.

The Capital Bonds will be issued on 13 May 2022 and quoted on the NZX Debt Market under the ticker code MCY050 on 16 May 2022.

The updated terms sheet is attached.

Joint Lead Managers:

BNZ - 0800 284 017
Craigs Investment Partners Limited - 0800 226 263
Forsyth Barr Limited - 0800 367 227

ENDS
Howard Thomas
General Counsel and Company Secretary
Mercury NZ Limited

For investor relations queries, please contact:
William Meek
Chief Financial Officer
0275 173 470

For media queries, please contact:
Shannon Goldstone
Head of Communications
Media phone: 027 210 5337

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Announcement PDF