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CHI - Indicative Interest Margin for Bond Offer

Friday 6th May 2022

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Further to the announcement by Channel Infrastructure NZ Limited ("Channel Infrastructure") of an offer of up to $100 million (with the ability to accept over subscriptions of up to an additional $25 million at Channel Infrastructure’s discretion) of 5 year, unsecured, unsubordinated, fixed rate bonds maturing on 20 May 2027 ("Bonds"), Channel Infrastructure today announced the indicative issue margin and minimum interest rate to be used in setting the interest rate to apply to the Bonds.

The offer opens today (Friday, 6 May 2022) and is expected to close on Friday, 13 May 2022 at 11am (New Zealand time).

The interest rate will be set as the sum of the underlying swap rate plus the issue margin, subject to a minimum interest rate of 5.80% per annum. The indicative issue margin range has been set at 1.80% to 2.10% per annum.

An announcement of the interest rate for the Bonds will be made following a bookbuild process, which is expected to be completed on or about 13 May 2022.

There is no public pool for the Bonds, with all of the Bonds under the Offer being reserved for clients of the joint lead managers, and other approved financial intermediaries.

This offer is being made in accordance with the Financial Markets Conduct Act 2013 and the Bonds are expected to be quoted on the NZX Debt Market.

Further details of the offer are contained in the product disclosure statement (“PDS”) for the Bonds. The PDS is available through www.channelnz.com/investor-centre/bonds or by contacting a joint lead manager or your usual financial advice provider and must be obtained by investors before they decide to acquire any Bonds.

For further information please contact:

Joint Arranger and Joint Lead Manager

Bank of New Zealand

Phone: 0800 284 017

Joint Arranger and Joint Lead Manager

Forsyth Barr

Phone: 0800 367 227

Joint Lead Manager

Jarden Securities Limited

Phone: 0800 005 678

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