New Zealand Post to issue $150 million of wholesale bonds

14 November 2011

New Zealand Post Group announced today that it has raised $150 million through an unsecured, unsubordinated bond offer under its Medium Term Note Programme. The proceeds of this issue will be used to repay the maturing $100 million bond maturing on the issue date, 15 November 2011, and for general business use.

The bonds carry a fixed interest rate of 5.225% and have been assigned a credit rating of AA- by Standard & Poor's. The Group’s credit rating is AA- (stable outlook). It is intended to apply to the Reserve Bank of New Zealand for the acceptance of the Bonds as eligible security in its Domestic Operations.

The offer opened on 8 November 2011 and closed on 10 November 2011. The Lead Manager of the issue was BNZ and the Co-Manager was Kiwibank. The Bonds will be issued on 15 November 2011.

Malcolm Shaw
Company Secretary