Channel issues notice to redeem Subordinated Notes

channelnz.com


NZX RELEASE
14 November 2023

Channel Infrastructure issues notice to redeem Subordinated Notes
Channel Infrastructure NZ Limited (Channel Infrastructure) confirmed today that it has issued a notice
to redeem all of its subordinated notes which are quoted on the NZX Debt Market under the ticker code
CHI010 (Subordinated Notes) on 1 March 2024.
For each Subordinated Note redeemed on 1 March 2024, Channel Infrastructure will pay to the relevant
holder an amount equal to the principal amount of the Subordinated Note ($1.00) plus the final semi-
annual interest payment.
The planned redemption of the Subordinated Notes follows the successful completion of the offer of
$100 million of 6 year, unsecured, unsubordinated, fixed rate bonds (Bonds) announced on 30 October
2023 (Offer).
In connection with the Offer, $20,099,000 of Subordinated Notes were purchased by Channel
Infrastructure in exchange for Bonds on a one-for-one basis at a face value of $1.00. All Subordinated
Notes purchased by Channel Infrastructure under that exchange mechanism have been cancelled. This
has reduced the total number of Subordinated Notes on issue from 75,000,000 Subordinated Notes to
54,901,000 Subordinated Notes. That reduction in the number of quoted Subordinated Notes may
impact trading of those Subordinated Notes on the secondary NZX Debt Market.
A copy of the redemption notice issued to holders of Subordinated Notes has been provided with this
announcement.

-ENDS-

Authorised by:

Chris Bougen
General Counsel and Company Secretary

Contact details:

Investor Relations contact:
Anna Bonney
investorrelations@channelnz.com

Media contact:
Laura Malcolm
communications@channelnz.com


About Channel Infrastructure

Channel Infrastructure’s vision is to be a world-class infrastructure company, delivering resilient
infrastructure solutions to help meet changing fuel and energy needs.
Channel Infrastructure’s assets are a critical part of the Northland and Auckland fuel supply chain,
supplying around 40% of New Zealand’s transport fuel demand and all of the jet fuel to the Auckland
International Airport. Utilising the deep-water harbour and jetty infrastructure at Marsden Point, as well
as 280 million litres of storage tanks, and the 170-kilometre pipeline from Marsden Point to Auckland
we receive, store, test and distribute fuel owned by our customers. Channel Infrastructure’s wholly-

channelnz.com
owned subsidiary, Independent Petroleum Laboratory Limited, provides fuel quality testing services at
Marsden Point and around New Zealand.
Channel Infrastructure will seek to support New Zealand’s decarbonisation ambitions, by utilising our
strategically-located assets and our expertise in supply chain infrastructure. The Company remains
focused on its future growth opportunities at the Marsden Point site and beyond, including additional
fuel storage to support fuel security and studies underway with partners on hydrogen and sustainable
aviation fuel opportunities.
For more information on Channel Infrastructure, please visit: www.channelnz.com