Transpower New Zealand Limited announces pricing for bond issue

27 November 2015

Following a successful bookbuild process for its bond offer, Transpower New Zealand Limited confirmed today that the offer of bonds due 30 June 2022 (Bonds) has closed and the full issue amount of NZ$75 million has been allocated to the participants (or their clients) in the relevant bookbuild process.  There was no public pool for the offer.

The issue price for the Bonds will be NZ$1.03387348 per bond which has been determined using an issue yield of 4.028 per cent per annum, which reflects a margin of 0.80 per cent over the underlying swap rate.

The Bonds will be issued on 3 December 2015 and are expected to be quoted on the NZX Debt Market.

An updated pricing supplement in respect of the Bonds is attached.

Ends

For assistance, please contact:
Rebecca Wilson
Corporate Communications Manager, Transpower
(04) 590 6695, 021 578 608

Westpac
0800 942 822