MCY080 bonds

NEW GREEN BONDS OFFER

OFFER DETAILS

We have announced an offer of up to $200 million (with the ability to accept up to an additional $50 million in oversubscriptions at Mercury’s discretion) of 7 year unsecured, unsubordinated, fixed rate green bonds (Green Bonds) to institutional investors and New Zealand retail investors.

The indicative terms sheet for the offer is available below.

No action has been or will be taken by Mercury which would permit a public offer of Green Bonds, or possession or distribution of any offering material, in any country or jurisdiction where action for that purpose is required (other than New Zealand). No person may purchase, offer, sell, distribute or deliver Green Bonds, or have in their possession, publish, deliver or distribute to any person, any offering material or any documents in connection with the Green Bonds, in any jurisdiction other than in compliance with all applicable laws and regulations and the specific selling restrictions set out in Schedule 2 to the Terms Sheet.

VIEW INDICATIVE TERMS SHEET

KEY TERMS

ISSUER

Mercury NZ Limited (Mercury).

INSTRUMENT

Unsecured, unsubordinated, fixed rate green bonds (Green Bonds).

EXPECTED ISSUE CREDIT RATING

BBB+ (Mercury has an Issuer Credit Rating of BBB+).

ISSUE AMOUNT

NZ$200m plus oversubscriptions of up to $50m (at Mercury’s discretion).

TERM

7 years (maturing 1 April 2033).

INDICATIVE ISSUE MARGIN RANGE

0.95% to 1.05% per annum.

USE OF PROCEEDS

The proceeds of the Green Bonds are intended to be notionally allocated to finance or refinance new or existing projects and expenditures relating to renewable energy and other eligible projects, in accordance with Mercury’s Green Financing Framework. Mercury expects to apply the proceeds of the Green Bonds to refinance existing debt.

MORE INFORMATION