Chorus prices Euro 400 million EMTN

STOCK EXCHANGE ANNOUNCEMENT

21 November 2025

Chorus prices Euro 400 million EMTN

Chorus Limited
Level 10, 1 Willis Street
PO Box 632

Wellington 6140
New Zealand

Email: company.secretary@chorus.co.nz
Chorus has today priced a 7-year issue of EUR400 million notes under its existing Euro
Medium Term Note (EMTN) programme. The notes carry a fixed coupon of 3.529% per
annum and mature on 26 November 2032. The notes transaction was open to
institutional investors only.
Chorus’ Chief Operating Officer Drew Davies said the proceeds from the new notes will
be used to refinance the existing EUR300m 0.875% notes due to mature on 5 December
2026 and for other general corporate purposes. A tender offer for the 5 December 2026
notes is currently underway and results from that process are expected on 26 November
2025.
“The socio-economic benefits of fibre broadband infrastructure are well recognised in
Europe, and we value the continued strong support from European investors. This
programme is another important input towards our goal to become a simplified all fibre
business with 80% uptake by 2030 – ultimately unleashing potential through
connectivity to meet consumer needs well into the future.”
The new notes are to be issued on 26 November 20 25 and will be fully swapped to NZD
821.7 million. Application will be made to quote the notes on the ASX.
The joint lead managers on the transaction were Citigroup Global Markets New Zealand
Limited, HSBC Bank plc and MUFG Securities Asia Limited.

Authorised by:
Drew Davies
Chief Operating Officer

ENDS

For further information:

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

Aleida White
Head of Investor Relations
Mobile: 64 (21) 155 8837
Email: Aleida.White@chorus.co.nz