Genesis Energy - Interest Rate for Green Capital Bond Offer

OFFER
Wed, Jun 01 2022 12:37 pm

Genesis Energy announces Interest Rate for Green Capital Bond Offer

Genesis Energy Limited (Genesis) today announced that, following a successful bookbuild for its offer of unsecured, subordinated green capital bonds (Capital Bonds), NZ$285,000,000 of Capital Bonds have been allocated to participants (or their clients) in the bookbuild process. This includes oversubscriptions of NZ$60,000,000. There was no public pool for the offer.

The Interest Rate for the Capital Bonds to the First Reset Date (9 June 2027) has been set at 5.66% per annum, which reflects a margin of 1.75% per annum over the underlying swap rate of 3.91% per annum.

The Capital Bonds will be issued on 9 June 2022 and quoted on the NZX Debt Market under the ticker code GNE070 on 10 June 2022.

As a result of the successful bookbuild process, Genesis will redeem its existing unsecured, subordinated, green capital bonds quoted on the NZX Debt Market under the ticker code GNE040. Genesis will issue a formal notice of redemption to GNE040 bondholders today.

The updated terms sheet is attached.

Joint Lead Managers:

Bank of New Zealand – 0800 284 017
Craigs Investment Partners Limited – 0800 226 263
Forsyth Barr Limited – 0800 367 227

For Capital Bond enquiries, please contact:
Dan Dillane
Group Treasurer
M: 021 501235

ENDS


Announcement PDF


Markets News

Fisher & Paykel Healthcare helps NZX up 1%
Markets Market Close

Fisher & Paykel Healthcare helps NZX up 1%

Skellerup Holdings shares rose 5.1%. 

Gregor Thompson 01 Jul 2025
Retail

Warehouse drops guidance, loss now in scope

The retailer has raised the possibility of a full-year earnings loss.

Gregor Thompson 01 Jul 2025
Warehouse drops guidance, loss now in scope
Markets Analysis

Xero’s Melio ‘leap of faith’

The NZ-founded company’s giant-killer dreams in the US hinge on this huge bet. 

Pattrick Smellie 01 Jul 2025
Xero’s Melio ‘leap of faith’