Chorus prices Euro 300 million bond

Chorus Limited
Level 10, 1 Willis Street
P O Box 632
Wellington 6140
New Zealand

Email:
company.secretary@chorus.co.nz

STOCK EXCHANGE ANNOUNCEMENT

29 November 2019

Chorus prices Euro 300 million bond

Chorus has today priced a 7-year issue of EUR300 million notes under its existing Euro
Medium Term Note (EMTN) programme. The notes carry a fixed coupon of 0.875% per
annum and mature on 5 December 2026.

Chorus CFO David Collins said the proceeds from the new notes will be used as part of
the refinancing of existing Sterling bonds, which are due to mature in April 2020.

“Today’s transaction was very well supported by investors, reflecting awareness of
Chorus’ existing EMTN programme and our ongoing transition to a regulated utility
framework.”

The new notes are to be issued on 5 December 2019 and will be fully swapped to
NZD514 million. Application will be made to quote the notes on the ASX.

The joint lead managers on the offer were Citibank, HSBC and MUFG.

ENDS

For further information:

Andrew Hopkinson
Treasurer
Mobile: +64 (27) 249 5678
Email: Andrew.Hopkinson@chorus.co.nz

Brett Jackson
Investor Relations Manager
Mobile: +64 (27) 488 7808
Email: Brett.Jackson@chorus.co.nz