Meridian Energy launches fixed rate retail bond offer

Meridian Energy Limited (Meridian) announced today that it is offering up to NZ$100,000,000 unsecured, unsubordinated fixed rate bonds (Bonds) to institutional and New Zealand retail investors, with the ability to accept up to $50,000,000 oversubscriptions at Meridian’s discretion.

Full details of the Bond offer are contained in the Terms Sheet, available here or by contacting the Joint Lead Managers, Co-Manager or an NZX Participant, and must be obtained by investors before they decide to acquire any Bonds.

The Bonds are expected to be quoted on the NZX Debt Market and have a long term credit rating of BBB+
from Standard & Poor's.

The Bonds have a maturity date of 20 March 2024 and the indicative margin for the Bonds is 1.50 to 1.60
percent per annum. The margin (which may be above or below the indicative margin) and interest rate will be
set following a bookbuild process on 10 March 2017 and will be announced by Meridian via NZX shortly

The offer will close on 10 March 2017 following the bookbuild process, with the Bonds expected to be issued
on 20 March 2017.

There is no public pool for the Bonds, which will be reserved for the clients of Bank of New Zealand, Westpac
Banking Corporation (acting through its New Zealand branch), Deutsche Craigs Limited and NZX participants.

Joint Lead Manager Joint Lead Manager Co-Manager


Westpac Institutional Bank

Deutsche Craigs

Ph: 0800 284 017

Ph: 0800 942 822

Ph: 0800 226 263


For investor relations queries, please contact: For media queries, please contact:

Owen Hackston
Investor Relations Manager
021 246 4772

Philippa Norman
External Communications
04 806 4607