Sharechat Logo

Mercury NZ Limited (NZX: MCY) Considers Green Bond Offer

Monday 8th March 2021

Text too small?

Mercury NZ Limited is considering making an offer (Offer) of up to $200 million (with the ability to accept up to an additional $50 million of oversubscriptions at Mercury’s discretion) of 5.5 year unsecured, unsubordinated fixed rate green bonds (Green Bonds) to institutional investors and New Zealand retail investors.

It is expected that full details of the Offer will be released in the week commencing 15 March 2021, when the Offer is expected to open.

Mercury has a corporate credit rating from S&P Global Ratings of BBB+ (stable outlook). The Green Bonds are expected to be assigned a credit rating of BBB+.

The proceeds of the Green Bonds are intended to be earmarked to finance and refinance Eligible Projects in accordance with Mercury’s Green Financing Framework dated August 2020.

In relation to the Offer, Mercury has appointed Westpac Banking Corporation (ABN 33 007 457 141) (acting through its New Zealand branch) (Westpac) as Arranger and Green Bond Co-ordinator, and ANZ Bank New Zealand Limited, Craigs Investment Partners Limited, Forsyth Barr Limited and Westpac as Joint Lead Managers.

There is no public pool for the Offer, with all of the Green Bonds being reserved for clients of the Joint Lead Managers, NZX participants and other approved financial intermediaries.

Investors can register their interest by contacting a Joint Lead Manager or their usual financial adviser. This Offer is being made in accordance with the Financial Markets Conduct Act 2013 and the Green Bonds are expected to be quoted on the NZX Debt Market.

Please see the link below for details:

Mercury considers green bond offer

Source: Mercury NZ Limited

  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

GSH Appointment of new Chairman
Greenfern secures agreement to supply medicinal cannabis
Rua on track to export to Germany by year end
Seeka releases Sustainability Report
NZL - Completion of Retail Offer
28th June 2022 Morning Report
Green Cross Health Limited 2022 Annual Report / NOM
Me Today completes Rights Issue
Channel confirms timing of Board Chair succession