Chorus prices Euro 500 million bond

STOCK EXCHANGE ANNOUNCEMENT

1 September 2022

Chorus prices Euro 500 million bond
Chorus Limited
Level 10, 1 Willis Street
P O Box 632
Wellington 6140
New Zealand

Email:
company.secretary@chorus.co.nz
Chorus has today priced a 7-year issue of EUR500 million notes under its existing Euro
Medium Term Note (EMTN) programme. The notes carry a fixed coupon of 3.625% per
annum and mature on 7 September 2029.

Chorus Acting CFO Andrew Carroll said the proceeds from the new notes will be used to
refinance the existing EUR500 million notes due to mature in October 2023. A tender
offer for the October 2023 notes is currently underway and results from that process
are expected on 6 September 2022.

“This is the third EMTN bond Chorus has issued since 2016 and we appreciate the
continued strong support from European investors. The socio-economic benefits of
fibre broadband infrastructure are well recognised in Europe and our transition to a
utility-style regulatory framework in January 2022 has provided further long-term
clarity for investors.”

The new notes are to be issued on 7 September 2022 and will be fully swapped to NZD
819.5 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