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Strong Demand for Telebonds

Strong Demand for Telebonds

TCNZ Finance today announced the successful issuance of the following tranches of TeleBonds:

7 Year TeleBonds (maturing 22 March 2013) $250,000,000
10 Year TeleBonds (maturing 22 March 2016) $150,000,000

“We are very pleased with the strong demand for the TeleBond issue from both the retail and institutional sectors. It is also very encouraging that the New Zealand debt market can offer financing opportunities for well-rated corporates at the longer end of the maturity spectrum,” said Nick Olson, General Manager Finance of Telecom Corporation of New Zealand Limited.

ANZ Investment Bank and Westpac Institutional Bank are the Joint Lead Managers of the issue, and First NZ Capital Securities Limited is the Organising Participant.

The TeleBonds are unsecured, unsubordinated interest-bearing obligations of TCNZ Finance. For the full terms of the offer of TeleBonds, please refer to the TCNZ Finance Investment Statement relating to the TeleBonds dated 3 March 2006.

ENDS

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