Vector announces outcome of Capital Bond election process

Friday 3rd June 2022

On 3 May 2022, Bondholders were sent an Election Notice and explanatory notes containing information about the new interest rate applicable to the Capital Bonds for the period from 15 June 2022 until the next election date of 15 June 2027 and details of Bondholders’ election options.

New Zealand Bondholders had until 5pm on 31 May 2022 to respond to the Election Notice.

The outcome of the Election Notice process is as follows:

• $268,774,500 of Capital Bonds were retained by existing Bondholders;

• $38,430,500 of Capital Bonds were offered for sale by existing Bondholders under the Resale Facility established by Vector; and

• existing Bondholders applied to purchase $26,097,500 additional Capital Bonds through the Resale Facility.

All of the Capital Bonds offered for sale by existing Bondholders under the Resale Facility have been sold, with settlement of such sales to occur on 15 June 2022. Capital Bonds offered for sale by existing Bondholders under the Resale Facility were first allocated to existing Bondholders who applied to purchase additional Capital Bonds through the Resale Facility, with the balance allocated to new investors through a firm allocation process.

Joint Lead Managers

ANZ 0800 269 476

Craigs Investment Partners 0800 226 263

Forsyth Barr 0800 367 227

BNZ 0800 284 017

ENDS

Vector announces outcome of Capital Bond election process

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