Mercury Sets Final Terms for NZ$250m Seven-Year Green Bond Issue

An announcement from Mercury NZ ( (MGHTF) ) is now available.

Mercury NZ Limited has finalised the terms for a NZ$250 million issue of seven-year unsecured, unsubordinated fixed-rate green bonds maturing on 1 April 2033, and lodged the terms sheet with the NZX. The green bonds, which sit in the same class as Mercury’s existing listed green bonds, will have their proceeds notionally allocated under Mercury’s Green Financing Framework to finance or refinance eligible renewable energy projects in line with Green Bond Principles and certified Climate Bonds Standard criteria.

The offer, rated BBB+ by S&P Global Ratings in line with Mercury’s issuer rating, underlines the company’s ongoing use of labelled green debt to support its portfolio of wind and geothermal projects. By tapping the domestic debt market with another certified green instrument, Mercury strengthens its funding base for renewable generation, reinforces its sustainability credentials and provides fixed-income investors with additional NZX-listed green bond exposure.

More about Mercury NZ

Mercury NZ Limited is a New Zealand-based electricity generator and retailer whose generation assets produce power from 100% renewable sources, including hydro, geothermal and wind. The company also retails electricity, gas, broadband and mobile services, and is dual-listed on the NZX and ASX under the ticker MCY, with the New Zealand Government holding a minimum 51% shareholding.

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