✨ Financial Notices
4020 NEW ZEALAND GAZETTE, No. 159 29 NOVEMBER 2010
TRANSPOWER NEW ZEALAND LIMITED LINES BUSINESS
Under the Euro Medium Term Note programme Transpower Finance may from time to time issue notes guaranteed by Transpower. The aggregate principal amount of the notes outstanding will not at any time exceed USD 1,000,000,000 ($1,442,585,000 as at 30 June 2010), (USD 1,000,000,000 ($1,532,332,000) as at 30 June 2009) or equivalent in other currencies.
The Guarantor (Transpower) and Transpower Finance have given a negative pledge covenant that while any of the notes issued under the EMTN programme remain outstanding they will not (and their subsidiaries will not), subject to certain exceptions, create or permit to exist any charge or lien over any of their respective assets to secure payment of certain indebtedness.
The Guarantor (Transpower) and Transpower Finance guarantee payment of all principal and interest amounts in respect of notes issued under the EMTN programme.
Australian Medium Term Notes
Under the Australian Medium Term Note programme, Transpower Finance may issue notes guaranteed by Transpower. The aggregate amount of the notes outstanding may not exceed AUD 750,000,000 ($921,829,000 as at 30 June 2010) (AUD 750,000,000 ($930,290,000) as at 30 June 2009).
There were no Australian Medium Term notes outstanding as at 30 June 2010 (30 June 2009: nil).
US Private Placement
Bonds were issued for a nominal amount of USD 100 million ($144.3 million converted at 30 June 2010 exchange rate of 0.6932 and $164.5 million as amended by cross currency interest rate swaps) with maturities in 2016 and 2019 and yields ranging from 5.59% to 5.74%.
Bonds are issued by Transpower Finance under a Note and Guarantee Agreement dated 27 September 2004. The Bonds are guaranteed by Transpower (the "Guarantor"), Halfway Bush Finance Limited and TB and T Limited (the "Subsidiary Guarantors"). The Guarantor and Subsidiary Guarantors have unconditionally guaranteed payment of the principal, interest and other amounts owing under the Agreement.
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NZ Gazette 2010, No 159
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Transpower New Zealand Limited Financial Statements
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🏭 Trade, Customs & IndustryFinancial liabilities, Euro Medium Term Note programme, Australian Medium Term Notes, US Private Placement, Bonds, Guarantees