Capital Change Notice – acquisition of CHI010 notes

Capital Change Notice



Section 1: Issuer information
Name of issuer Channel Infrastructure NZ Limited
(Channel Infrastructure)
NZX ticker code CHI010
Class of financial product Unsecured, subordinated notes
issued by Channel Infrastructure
on 14 December 2018, which are
quoted on the NZX Debt Market
under the ticker CHI010
(Subordinated Notes)
ISIN (If unknown, check on NZX website) NZNZRDT001C8
Currency NZD
Section 2: Capital change details
Number issued/acquired/redeemed Acquisition of 20,099,000
Subordinated Notes
Nominal value (if any) $20,099,000 ($1.00 per
Subordinated Note)
Issue/acquisition/redemption price per security $1.00 per Subordinated Note
(with the purchase price of the
Subordinated Notes to be satisfied
by Channel Infrastructure issuing
unsecured, unsubordinated, 6 year
fixed rate bonds due 14 November
2029 which are to be quoted on
the NZX Debt Market on or about
the date of this notice under the
ticker CHI030 (Bonds) to the
relevant holder of Subordinated
Notes equal in number to the
Subordinated Notes acquired (on a
one-for-one basis at a face value
of $1.00)).
Nature of the payment (for example, cash or other
consideration)
Exchanged for Bonds under the
exchange mechanism set out in
the Indicative Terms Sheet for the
offer of Bonds dated 30 October
2023 and the Final Terms Sheet
dated 3 November 2023 (Terms
Sheets). The Subordinated Notes
acquired under such exchange
mechanism will be cancelled.
Amount paid up (if not in full) Fully paid
Percentage of total class of Financial Products
issued/acquired/redeemed/ (calculated on the number of
Financial Products of the Class, excluding any Treasury
Stock, in existence)
26.8% acquired and cancelled.
For an issue of Convertible Financial Products or Options,
the principal terms of Conversion (for example the
N/A

Conversion price and Conversion date and the ranking of
the Financial Product in relation to other Classes of
Financial Product) or the Option (for example, the exercise
price and exercise date)
Reason for issue/acquisition/redemption and specific
authority for issue/acquisition/redemption/ (the reason for
change must be identified here)
Reason for acquisition:
Subordinated Notes acquired from
successful applicants under the
exchange mechanism set out in
the Terms Sheets.

Specific authority for the
acquisition: Board resolutions
dated 29 October 2023
Total number of Financial Products of the Class after the
issue/acquisition/redemption/Conversion (excluding
Treasury Stock) and the total number of Financial
Products of the Class held as Treasury Stock after the
issue/acquisition/redemption.
Total number of remaining
Subordinated Notes on issue
following the acquisition and
cancellation of those Subordinated
Notes: 54,901,000 Subordinated
Notes

Total number of Subordinated
Notes held as Treasury Stock:
None
In the case of an acquisition of shares, whether those
shares are to be held as treasury stock
N/A
Specific authority for the issue, acquisition, or redemption,
including a reference to the rule pursuant to which the
issue, acquisition, or redemption is made
Authorised by Board resolutions
dated 29 October 2023
Terms or details of the issue, acquisition, or redemption
(for example: restrictions, escrow arrangements)
The terms of the acquisition of the
Subordinated Notes under the
exchange mechanism are
described in the Terms Sheets.
Date of issue/acquisition/redemption 14/11/2023
Section 3: Authority for this announcement and contact person
Name of person

authorised to make this announcement
Chris Bougen General Counsel
and Company Secretary
Contact person for this announcement Chris Bougen
Contact phone number +64 9 432 8311
Contact email address investorrelations@channelnz.com
Date of release through MAP

14/11/2023