Meridian and Contact Agree Swaption and CfD Deal

Meridian Energy Limited (“Meridian”) and Contact Energy Limited (“Contact”) have entered into a swaption and a contract for difference (“CFD”). The two financial contracts provide Meridian with additional portfolio flexibility and are for a 2-year period commencing on 1 January 2023. Both financial contracts are subject to conditions precedent that Contact has obtained a certain amount of natural gas each year, with this being confirmed or otherwise no later than 15 September 2022 for the 2023 year and 15 September 2023 for the 2024 year.

The swaption is limited to 150GWh per annum and may be called between 1 April and 30 September for each of 2023 and 2024. Meridian is the fixed price payer. Meridian also pays Contact a premium each year for the right to call the swaption.

The CfD is for 294GWh per annum and Meridian is the fixed price payer.

Meridian will provide a further update to the market confirming whether the conditions precedent have been met for 2023 and 2024.

Meridian and Contact Agree Swaption and CfD Deal

Comments from our readers

No comments yet

Add your comment:

Your name:
Your email:	Not displayed to the public
Comment:
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.

Anti-spam verification:

Type the text you see in the image into the field below. You are asked to do this in order to verify that this enquiry is not being performed by an automated process.

Related News:

SPG - Change to Executive Team
BGI - Forgiveness of $200,000 of secured indebtedness
General Capital Subsidiary General Finance Market Update
AFT,Massey Ventures,Gilles McIndoe to develop scar treatmen
April 24th Morning Report
Cheers to many fewer grape harvest spills
GTK - Half-Year Results Announcement Date
Government ends war on farming
Sky and BBC Studios renew expanded, multi-year agreement
AOF - Q1 Improved Trading Performance & FY24 Guidance Maintained