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TrustPower Senior Bond Issue

TrustPower Senior Bond Issue

TrustPower makes the following announcements with respect to its 5 year

and 7 year Senior Bond Offer.


5 Year Bonds Maturing 15 December 2014

The offer in respect of the 5 year bonds was limited to $75,000,000 plus

any oversubscriptions accepted by TrustPower. TrustPower has already

received applications through the public pool in excess of $2,975,000

which, together with firm allocations accepted from NZX participant

firms and institutions of $72,025,000, means that a total amount in

excess of $75,000,000 has been applied for in relation to the 5 year

bonds.


TrustPower has decided that no oversubscriptions will be accepted in

relation to the 5 year bonds and that applications for the 5 year bonds

will close at 5:00pm on Friday, 18 December 2009. As set out in the

prospectus, public pool applications have been accepted on a first come

first served basis


Allotment of the 5 year bonds will occur on Tuesday, 22 December 2009,

with the bonds expected to commence trading on the NZDX on Wednesday, 23

December 2009.


7 Year Bonds Maturing 15 December 2016

The closing date of the 7 year bonds, which have an interest rate of 8%

per annum payable quarterly, has been extended to 5.00 pm Wednesday, 27

January 2010. There will be no further extensions to the Closing Date.

TrustPower is offering up to $50 million 7 year bonds, with the ability

to accept oversubscriptions as stated in the prospectus. The current

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amount of 7 year bonds subscribed for (including firm allocations) is

$49,400,000.


Allotment in relation to applications for the 7 year bonds received

before 5:00pm on Friday, 18 December 2009 will occur on Tuesday, 22

December 2009, with the bonds expected to commence trading on the NZDX

on Wednesday, 23 December 2009.


Further bonds will be allotted on a weekly basis during the extended

offer period with a final expected allotment date of Friday, 29 January

2010.


ends


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