Manawa Energy eyes retail bond offering
August 15, 2022
Manawa Energy Limited (Manawa Energy) today announced that it is considering making an offering (Offering) of five-year fixed rate, unsecured and unsubordinated bonds (Bonds) to New Zealand institutional and retail investors.
It is expected that full details of the Offer will be released in the week commencing August 22, 2022, when the Offer is expected to open.
The Offer will likely consist of two distinct parts:
- A “Firm Offer” is expected to open on August 22, 2022, which will be available to New Zealand clients of the joint lead managers, institutional investors and other primary market participants invited to participate in the bookbuild. The Binding Offer is expected to close on August 25, 2022 following a bookbuilding process to fix the interest rate of the Bonds. There will be no public prize pool for the Binding Offer.
- An “Exchange Offer” expected to open on August 26, 2022 (following the Binding Offer) pursuant to which all New Zealand resident holders of MNW150 Notes due December 15, 2022 will have the option to exchange all or part of their maturing bonds for the Bonds.
Manawa Energy has appointed ANZ Bank New Zealand Limited as arranger and co-lead manager, and Craigs Investment Partners Limited and Forsyth Barr Limited as co-lead managers in connection with the proposed offer.
Investors can express their interest in the proposed Offer by contacting a Joint Lead Manager or their usual financial adviser. Expressions of interest will not imply any obligation or commitment to acquire Bonds.
No sum of money is currently sought and the Bonds cannot be requested or acquired before the opening of the Offer.
If Manawa Energy offers the Bonds, the Offer will be made pursuant to the Financial Markets Conduct Act 2013 as an offer of debt securities of the same class as the existing bonds of Manawa Energy which are listed on the NZX Debt Market under the codes MNW150, MNW170 and MNW180. The bonds are expected to be listed on the NZX Debt Market.
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Classification: PROTECTED
Joint leaders
ENDS
For all investor relations and media inquiries, please contact:
Phil Wiltshire, Managing Director of Corporate Services
[email protected] / 027 582 6600
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