Channel Infrastructure Bond Offer

Retail Bonds

Unsecured, unsubordinated, fixed rate 6 year bonds.

Channel Infrastructure NZ Limited (Channel Infrastructure) is issuing $100,000,000 of 6 year, unsecured, unsubordinated, fixed rate bonds (Bonds) maturing on 14 November 2029 to retail investors resident in New Zealand and institutional investors (the Offer).

The Offer is now closed.

The interest rate for the Bonds has been set at 6.75% per annum. The issue date for the Bonds is 14 November 2023. The Bonds are expected to be quoted on the NZX Debt Market under the ticker code CHI030 and commence trading on 15 November 2023.

Further Offer details are contained in the Final Terms Sheet dated 3 November 2023 (Final Terms Sheet).

The Offer of Bonds by Channel Infrastructure is being made in reliance upon the exclusion in clause 19 of schedule 1 of the Financial Markets Conduct Act 2013 (FMCA). Except for the interest rate and maturity date, the Bonds will have identical rights, privileges, limitations and conditions as Channel Infrastructure’s $100,000,000 5.80% unsecured, unsubordinated, fixed rate bonds maturing on 20 May 2027 which are quoted on the NZX Debt Market under the ticker code CHI020 (Existing Bonds).  Accordingly, the Bonds are of the same class as the Existing Bonds for the purposes of the FMCA and the Financial Markets Conduct Regulations 2014. Channel Infrastructure is subject to a disclosure obligation that requires it to notify certain material information to NZX Limited (NZX) for the purpose of that information being made available to participants in the market and that information can be found by visiting nzx.com. The Existing Bonds are the only debt securities of Channel Infrastructure that are currently quoted and in the same class as the Bonds. Investors should look to the market price of the Existing Bonds to find out how the market assesses the returns and risk premium for those bonds. The Bonds are expected to be quoted on the NZX Debt Market on 15 November 2023 under ticker code CHI030.

You should read the Final Terms Sheet, the Trust Documents, the Investor Presentation and Channel Infrastructure’s market releases via NZX (including those made on 30 October 2023 and 3 November 2023 in relation to the Offer, on 23 August 2023 in relation to Channel Infrastructure’s half year report and results presentation for the six months ended 30 June 2023 and on 24 February 2023 in relation to Channel Infrastructure’s most recent annual report and annual results presentation for the year ended 31 December 2022) in their entirety and seek financial, investment or other professional advice from a qualified professional adviser when considering the Offer.

Any capitalised terms used on this webpage but not defined have the meanings given to those terms in the Final Terms Sheet.

Contact

If you have any questions about the Offer, you should contact one of the Joint Lead Managers:

Joint Lead Managers

0800 269 476	0800 226 263	0800 367 227	0800 005 678

Important Notice and Disclaimer

Channel Infrastructure does not intend that the Bonds be offered for sale, and has not taken and will not take any action which would permit a public offering of Bonds, or possession or distribution of any offering material in respect of the Bonds, in any country or jurisdiction where action for that purpose is required (other than New Zealand). The contents of this webpage are not permitted to be made available to persons in any country other than New Zealand.  Persons who are accessing this website from outside New Zealand should exit this webpage immediately.

This webpage and its contents (including the Investor Presentation and the Final Terms Sheet) do not constitute an offer, advertisement or invitation in any place in which, or to any person to whom, it would not be lawful to make such an offer, advertisement or invitation.  If you come into possession of those documents, you should observe any applicable offering restrictions (including those set out in the Final Terms Sheet).  Any failure by a person to comply with such restrictions may contravene applicable securities law.  Channel Infrastructure disclaims all liability in respect of any such contravention by any other person.

Channel Infrastructure is subject to a disclosure obligation that requires it to notify certain material information to NZX Limited (NZX). You can find market announcements released by Channel Infrastructure at nzx.com under the ticker “CHI”. Channel Infrastructure may, during the period of the Offer, release additional market announcements to the NZX. Investors should monitor Channel Infrastructure’s market announcements during the Offer. To the maximum extent permitted by law, no market announcement by Channel Infrastructure to the NZX will permit an applicant to withdraw any previously submitted application for Bonds under the Offer without Channel Infrastructure’s prior consent.

An investment in securities in Channel Infrastructure is subject to investment and other known and unknown risks, some of which are beyond the control of Channel Infrastructure. Before deciding whether to invest in Bonds, you must make your own assessment of the risks associated with an investment in Channel Infrastructure, and carefully consider whether such an investment is suitable for you having regard to publicly available information (including the information made available or referred to on this webpage), your personal circumstances and following consultation with a financial or other professional adviser.  You should seek your own tax advice in relation to the Bonds.

You must read the Final Terms Sheet, the Investor Presentation, the Trust Documents (which set out in the full terms and conditions of the Bonds) and the other documents available or referred to on this webpage, in conjunction with Channel Infrastructure’s market announcements, carefully and in full when considering the Offer.

Channel Infrastructure will take any necessary steps to ensure the Bonds are, immediately after issue, quoted on the NZX Debt Market.  Application has been made to NZX for permission to quote the Bonds on the NZX Debt Market and all the requirements of NZX relating thereto that can be complied with on or before the date of this webpage have been duly complied with. However, the Bonds have not yet been approved for trading and NZX accepts no responsibility for any statement in this website.  NZX is a licensed market operator and the NZX Debt Market is a licensed market, each regulated under the Financial Markets Conduct Act 2013.

None of Channel Infrastructure, the Arranger, the Joint Lead Managers (in each case as defined in the Final Terms Sheet) or their related companies and affiliates including, in each case, their respective shareholders, directors, officers, employees, affiliates, agents or advisers, as the case may be: (i) make any representation, warranty or undertaking, express or implied, as to the fairness, accuracy, reliability or completeness of, the contents of this webpage; (ii) to the maximum extent permitted by law, hereby disclaim and shall have no liability for any loss arising from the contents or use of this webpage or from the accessing or downloading of any document on it; and (iii) guarantee any particular rate of return in respect of the Bonds or the performance of Channel Infrastructure.