Meridian Energy Limited (Meridian) is considering making an offer of up to $250 million (with the ability to accept oversubscriptions of up to an additional $50 million at Meridian’s discretion) of 6.5 year unsecured, unsubordinated, fixed rate green bonds (Green Bonds) to institutional and New Zealand retail investors.
It is expected that full offer details will be released on Monday, 1 September 2025, when the offer is expected to open.
Meridian has an Issuer Credit Rating from S&P Global Ratings of BBB+ (stable outlook). The Green Bonds are expected to be assigned an Issue Credit Rating of BBB+.
Meridian has appointed Bank of New Zealand as Arranger and Joint Lead Manager and Craigs Investment Partners Limited, Forsyth Barr Limited and Westpac Banking Corporation (ABN 33 007 457 141) (acting through its New Zealand Branch) as Joint Lead Managers in relation to the proposed offer.
Investors can register their interest in the proposed offer by contacting one of the Joint Lead Managers (listed below) or their usual financial advice provider. Indications of interest will not involve an obligation or commitment to acquire any Green Bonds.
No money is currently being sought and Green Bonds cannot currently be applied for or acquired. If the proposed offer is made, it will be made in accordance with the Financial Markets Conduct Act 2013 as an offer of debt securities of the same class as existing quoted debt securities. Application will be made to NZX for any Green Bonds to be quoted on the NZX Debt Market on completion of the offer.
Joint Lead Managers:
Bank of New Zealand: 09 924 9602
Craigs Investment Partners Limited: 0800 226 263
Forsyth Barr Limited: 0800 367 227
Westpac Banking Corporation (ABN 33 007 457 141) (acting through its New Zealand Branch): 0800 772 142