NZ Post Plans Subordinated Notes Offer To Public

3 February 2009

New Zealand Post Plans Subordinated Notes Offer To Public

New Zealand Post Limited announced today it is considering making a public offer of interest-bearing, subordinated notes.

It is proposed to offer $150 million of notes, with the ability to accept oversubscriptions of up to $50 million. The notes will be offered primarily to the public in New Zealand.

It is intended that the notes will be used to repay existing debt and enable further growth within the New Zealand Post Group.

It is expected that the offer will open in mid March, with closure in mid April. The interest rate to apply to the notes will be announced before the offer opens.

No money is currently being sought and no applications for the notes will be accepted or money received unless the subscriber has received an investment statement. Investors wishing to register preliminary indications of interest and to obtain an investment statement when it becomes available for this offer should contact their financial adviser. No indication of interest will involve an obligation or commitment of any kind.

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