Friday 30th June 2023 |
Text too small? |
Genesis Energy Limited (Genesis) announces that it is exercising its option to fully redeem its subordinated capital bonds which are quoted on the NZX Debt Market under the ticker GNE050 (GNE050 Bonds) on 17 July 2023 (being the first business day after the scheduled reset date of 16 July 2023, which is a Sunday).
Genesis will redeem all GNE050 Bonds on 17 July 2023 that are not otherwise redeemed on 10 July 2023 under the exchange mechanism (Exchange Mechanism) described in the final terms sheet (Terms Sheet) for an offer of new capital bonds (New Capital Bonds), published by Genesis via NZX on 29 June 2023.
Trading in the GNE050 Bonds has been suspended since market close on Monday, 26 June 2023.
For GNE050 Bonds redeemed on 17 July 2023, Genesis will pay to the relevant GNE050 bondholders an amount equal to the principal amount of each redeemed GNE050 Bond ($1.00) plus the final quarterly interest payment.
For GNE050 Bonds redeemed on 10 July 2023 under the Exchange Mechanism, Genesis will:
• issue to the relevant GNE050 bondholders an equal number of New Capital Bonds (on a one-for-one basis at a face value of $1.00); and
• pay a final interest payment on the exchanged GNE050 Bonds for the period from (and including) the previous interest payment date for the GNE050 Bonds (16 April 2023) to (but excluding) the issue date of the New Capital Bonds (10 July 2023).
For further information about the Exchange Mechanism, GNE050 bondholders should see the Terms Sheet or contact their financial adviser, one of the Joint Lead Managers (as set out in the Terms Sheet) or another NZX participant.
Genesis will communicate with the GNE050 bondholders to notify them of this decision – a template letter is attached to this announcement.
No comments yet
Second St John withdrawal of labour takes effect tomorrow with further strikes likely
Sanford Appoints Independent Director
CRP ADVISES CLOSURE OF SHARE OFFER TO EXISTING INVESTOR
Devon Funds Morning Note - 14 August 2024
OCR 5.25% - Monetary restraint tempered as inflation converges on target
Consumers still need due diligence as new deposit takers emerge.
Woolworths strike: staff asked to dress up in Disney costumes for a week on their own dollar
Turners Invests in Quashed Online Insurance Platform
PGW Reports on Challenging Year
Arvida Announces Executive Team Changes