14 Jul 2025
Transpower New Zealand Limited (Transpower) is considering an offer (Retail Offer) of five- year unsecured, unsubordinated fixed rate green bonds to New Zealand retail investors and to institutional investors (Retail Green Bonds).
It is expected that full details of the Retail Offer will be released the week of 21 July 2025, subject to market conditions.
The Retail Offer will be made pursuant to the Financial Markets Conduct Act 2013 as an offer of debt securities of the same class as Transpower’s existing quoted debt securities. The Retail Green Bonds are expected to be quoted on the NZX Debt Market.
Transpower has appointed Westpac Banking Corporation (acting through its New Zealand branch) as Lead Manager in relation to the Retail Offer.
Investors can register their interest with the Lead Manager (details below) or a financial adviser. Indications of interest will not involve an obligation or commitment of any kind. No money is currently being sought, and no Retail Green Bonds can be applied for or acquired in relation to the Retail Offer until the Retail Offer opens and the investor has received a copy of the relevant offer document in relation to the Retail Green Bonds.
Wholesale Offer
Transpower is also considering making an offer (Wholesale Offer) of 3-year unsecured unsubordinated floating rate green bonds to certain wholesale investors only. Retail investors may not participate in the Wholesale Offer. Transpower has also appointed Westpac Banking Corporation (acting through its New Zealand branch) as Lead Manager in relation to the Wholesale Offer.
If Transpower makes the Retail Offer and the Wholesale Offer, the maximum amount of bonds to be issued by Transpower under the Retail Offer and the Wholesale Offer together would not exceed NZ$225,000,000.
Lead Manager
Westpac Banking Corporation (ABN 33 007 457 141) (acting through its New Zealand branch)
0800 772 142
For further information, please contact:
Laura Ackland
Senior Corporate Communications Advisor, Transpower 021 394 042.