Transpower issue size and interest rate determined

07 March 2019

Following a successful bookbuild process for its bond offer, Transpower New Zealand Limited announced today that the offer had closed and NZ$150 million of unsecured, unsubordinated fixed rate bonds (Bonds) had been allocated to the participants (or their clients) in the bookbuild process. There was no public pool for the offer.

The interest rate for the Bonds will be 2.73 per cent per annum, which reflects a margin of 0.75 per cent over the underlying 5 year swap rate. The Bonds will be issued on 14 March 2019 and will mature on 14 March 2024. The Bonds are expected to be quoted on the NZX Debt Market under the ticker code TRP060. The final pricing supplement will follow.

Ends

For assistance, please contact:

Laura Ackland,

Senior Corporate Communications Advisor, Transpower

(04) 590 6721; 027 5653 783

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