Genesis Energy considers Green Bond offer

AUCKLAND, NEW ZEALAND: Genesis Energy Limited is considering making an offer of 6-year fixed-rate unsecured, unsubordinated green bonds (Green Bonds) to institutional investors and New Zealand retail investors.

It is expected that full details of the offer will be released on 1 March 2022, when the offer is expected to open.

Genesis has a corporate 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+.

Genesis has appointed Westpac Banking Corporation (ABN 33 007 457 141) (acting through its New Zealand branch) (Westpac) as Arranger and Green Bond Coordinator, and Craigs Investment Partners Limited together with Westpac as Joint Lead Managers in relation to the proposed offer.

There is not expected to be any public pool for the offer, with all of the Green Bonds being reserved for clients of the Joint Lead Managers, NZX Participants and other approved financial intermediaries.

Investors can register their interest by contacting a Joint Lead Manager or their usual financial advice provider. Indications of interest will not constitute an obligation or commitment of any kind. No money is currently being sought and applications for the Green Bonds cannot currently be made.

If Genesis offers the Green Bonds, the offer 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. The Green Bonds are expected to be quoted on the NZX Debt Market.

About the author

Leave a Reply

Your email address will not be published. Required fields are marked *