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CHORUS LIMITED — Capital/Financing Update 2013
Aug 1, 2013
64680_rns_2013-08-01_14d0e216-68e0-49c2-b441-e3c6c0458b50.pdf
Capital/Financing Update
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STOCK EXCHANGE ANNOUNCEMENT
2 August 2013
Chorus Limited Level 9 Datacom House 68-86 Jervois Quay P O Box 632 Wellington New Zealand Email: [email protected]
Chorus enters new $250m bank facility
Chorus has today entered into an agreement for a new $250 million bank facility which, subject to standard conditions, will be used to pay down drawings under its existing bank facility.
Chorus’ existing syndicated bank facility comprises two equal tranches of $675 million, due to mature in November 2015 and November 2017 respectively. The new facility extends Chorus’ debt maturity profile with a 2019 maturity date.
Chorus CFO Andrew Carroll said Chorus was pleased to have secured the funding through to 2019 on substantially the same financial terms.
“We appreciate the support of the small group of banking partners who put the facility in place despite the ongoing uncertainty we are experiencing in the current regulatory environment.
“As well as enabling us to extend our debt maturity profile, the new facility will provide additional financial flexibility as Chorus continues to invest heavily in New Zealand’s fibre future through the UFB rollout,” he said.
ENDS
For further information:
Ian Bonnar Corporate Affairs Manager Phone: +64 9 358 6061 Mobile: +64 (27) 215 7564 Email: [email protected]
Brett Jackson Investor Relations Manager Phone: +64 4 498 9271 Mobile: +64 (27) 488 7808 Email: [email protected]