Genesis - Interest Rate Set for Green Capital Bond Offer

Genesis – Interest Rate Set 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$240,000,000 of Capital Bonds have been allocated to participants (or their clients) in the bookbuild process. There was no public pool for the offer.

The Interest Rate for the Capital Bonds to the First Reset Date (10 July 2028) has been set at 6.50% per annum, being the minimum interest rate for the Capital Bonds.

The Capital Bonds will be issued on 10 July 2023 and quoted on the NZX Debt Market under the ticker code GNE080 on 11 July 2023.

As a result of the successful bookbuild process, Genesis will redeem its existing subordinated, unsecured capital bonds quoted on the NZX Debt Market under the ticker code GNE050 on 17 July 2023 (that are not otherwise redeemed on 10 July 2023 under the exchange mechanism described in the final terms sheet attached to this announcement). Genesis will issue a formal notice of redemption to GNE050 bondholders on or about 30 June 2023.

The final 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 & Risk
M: 021 501 235

ENDS

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Announcement PDF