STOCK EXCHANGE ANNOUNCEMENT
16 November 2017
Christchurch City Holdings Limited Lodges Product Disclosure Statement for Bond Offer
Christchurch City Holdings Limited (“CCHL”) has announced an offer (“Offer”) of up to $100 million (with the ability to accept up to $50 million of oversubscriptions at CCHL’s discretion) of 5 year, unsecured, unsubordinated, fixed rate bonds (“Bonds”) maturing on 6 December 2022 to institutional investors and New Zealand retail investors. The bonds are expected to be assigned an A+ rating by S&P Global Ratings.
The Offer is expected to open on 27 November 2017 and to close on 29 November 2017.
The Bonds are expected to be quoted on the NZX Debt Market.
CCHL has appointed Westpac Banking Corporation (ABN 33 007 457 141) (acting through its New Zealand branch) (“Westpac”) as Arranger, and ANZ Bank New Zealand Limited and Westpac as Joint Lead Managers in relation to the Offer.
Full details of the Offer are contained in the Product Disclosure Statement (“PDS”) which was lodged today. The PDS is available through www.cchl.co.nz/bond-offer or by contacting the Joint Lead Managers, and must be given to investors before they decide to apply for any Bonds. There are restrictions on offering, issuing or selling Bonds outside New Zealand, as set out in the Disclose Register at www.business.govt.nz/disclose.
There is no public pool for the Offer, with all of the Bonds being reserved for clients of the Joint Lead Managers and other approved financial intermediaries.
Interested investors should contact the Joint Lead Managers, a Primary Market Participant or their usual financial advisor for more details.
Arranger and Joint Lead Manager
0800 942 822
Joint Lead Manager
0800 269 476
ENDS
For further information:
Leah Scales
Chief Financial Officer
Phone: +64 3 941 8817
Mobile: +64 21 309 489
Email: leah.scales@cchl.co.nz