Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


New investment product: Renewable Investment Notes

Media Release
For immediate release: Monday 2 February 2009

Meridian offers new investment product: Renewable Investment Notes

New Zealand’s largest state-owned generator is offering Renewable Energy Notes so investors can help support its business in renewable energy.

Meridian’s Chief Financial Officer, Neal Barclay, says: “Investors will value knowing they are getting a good rate of return from a New Zealand company.”

“We’re committed to building new generation by harnessing our natural resources. The money raised through this investment programme will help us to continue to focus on our business goals, including generating renewable energy through our hydro stations and wind farms.”

Meridian has been working with independent experts in the market to build a good model for managing and operating the offer, which was launched first to its staff late 2008.


What is a Renewable Energy Note?
The RENs constitute direct, unsecured and unsubordinated debt obligations of Meridian. RENs are fixed-rate interest-bearing New Zealand dollar investments for a fixed period of 18 months or less.

Details of Renewable Energy Notes
Meridian has a Standard and Poor’s BBB+ financial rating and is offering Renewable Energy Notes as an investment product.
• Type: Term Investment
• Terms available: 9,12 and 18 months
• Interest paid quarterly
• Minimum investment: $2,000 and integral multiples of $500 thereafter.
• Offer period will close 31 March 2009

Interest Rates as at 2 February 2009

Term Interest rate
9 months 5.25% p.a.
12 months 5.00% p.a.
18 months 5.00% p.a.
Interest rates are subject to change.

How the RENs work
The investor can choose how much they want to invest, and pick a term that suits. The interest rate is fixed for the term selected and interest will be paid at the end of each quarter.

To request an Investment Statement, call 0800 635 736 or visit www.meridianenergy.co.nz/investments <http://www.meridian.co.nz/investments>

The Issuer is Meridian Energy Limited (“Meridian”). The Renewable Energy Notes (“RENs”) are senior, unsecured debt obligations of Meridian. The RENs are guaranteed by the companies that are from time to time guaranteeing group members under the trust deed that constitutes the RENs, currently being Meridian, MEL Holdings Limited, MEL (West Wind) Limited, MEL (Te Ä€piti) Limited and MEL (White Hill) Limited. The guarantee is not secured. The RENs are not guaranteed by the Government. The minimum holding of RENs is $2,000 and multiples of $500 thereafter.


ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Cosmetics & Pollution: Proposal To Ban Microbeads

Cosmetic products containing microbeads will be banned under a proposal announced by the Minister for the Environment today. Marine scientists have been advocating for a ban on the microplastics, which have been found to quickly enter waterways and harm marine life. More>>

ALSO:

NIWA: 2016 New Zealand’s Warmest Year On Record

Annual temperatures were above average (0.51°C to 1.20°C above the annual average) throughout the country, with very few locations observing near average temperatures (within 0.5°C of the annual average) or lower. The year 2016 was the warmest on record for New Zealand, based on NIWA’s seven-station series which begins in 1909. More>>

ALSO:

Farewell 2016: NZ Economy Flies Through 2016's Political Curveballs

Dec. 23 (BusinessDesk) - New Zealand's economy batted away some curly political curveballs of 2016 to end the year on a high note, with its twin planks of a booming construction sector and rampant tourism soon to be joined by a resurgent dairy industry. More>>

ALSO:


NZ Economy: More Growth Than Expected In 3rd Qtr

Dec. 22 (BusinessDesk) - New Zealand's economy grew at a faster pace than expected in the September quarter as a booming construction sector continued to underpin activity, spilling over into related building services, and was bolstered by tourism and transport ... More>>

  • NZ Govt - Solid growth for NZ despite fragile world economy
  • NZ Council of Trade Unions - Government needs to ensure economy raises living standards
  • KiwiRail Goes Deisel: Cans electric trains on partially electrified North Island trunkline

    Dec. 21 (BusinessDesk) – KiwiRail, the state-owned rail and freight operator, said a small fleet of electric trains on New Zealand’s North Island would be phased out over the next two years and replaced with diesel locomotives. More>>

  • KiwiRail - KiwiRail announces fleet decision on North Island line
  • Greens - Ditching electric trains massive step backwards
  • Labour - Bill English turns ‘Think Big’ into ‘Think Backwards’
  • First Union - Train drivers condemn KiwiRail’s return to “dirty diesel”
  • NZ First - KiwiRail Going Backwards for Xmas
  • NIWA: The Year's Top Science Findings

    Since 1972 NIWA has operated a Clean Air Monitoring Station at Baring Head, near Wellington... In June, Baring Head’s carbon dioxide readings officially passed 400 parts per million (ppm), a level last reached more than three million years ago. More>>

    ALSO:

    Get More From Scoop

     
     
     
     
     
     
     
     
    Business
    Search Scoop  
     
     
    Powered by Vodafone
    NZ independent news