CHI - Exchange Mechanism of CHI010 notes for CHI030 bonds

Monday 30th October 2023

(a) CHI is offering up to $75,000,000 (with the ability to accept oversubscriptions of up to an additional $25,000,000 at CHI's discretion) of 6 year, unsecured, unsubordinated, fixed rate bonds (CHI030 bonds) maturing on 14 November 2029 to investors resident in New Zealand and institutional investors (Offer); and

(b) CHI intends to give CHI010 noteholders that hold CHI010 notes through a custodial account (and who wish to apply for CHI030 bonds) the opportunity to exchange all or some of their CHI010 notes for an equal number of CHI030 bonds on the issue date of the CHI030 bonds (on a one-for-one basis at a face value of $1.00),

each on the terms set out in the Indicative Terms Sheet released over NZX by CHI on 30 October 2023.

Channel Infrastructure has the right to redeem the CHI010 notes on 1 March 2024 (being the first scheduled election date) and intends to redeem any CHI010 notes that are not otherwise purchased under the exchange mechanism described above.

The terms and details of the CHI030 bonds will be provided in a Quotation Notice, which will be released to the market at such time as the relevant information becomes available.

A timetable of events is attached.

Please contact NZX Product Operations on +64 4 496 2853 or productoperations@nzx.com with any queries.

ENDS

Exchange Mechanism of CHI010 notes for CHI030 bonds

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