• Media release
  • 24 May 2018
  • 2 min read

Genesis wins ‘NZ Debt Market Issue of the Year’

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  • Genesis wins ‘NZ Debt Market Issue of the Year’

Genesis Energy’s $225 million fixed rate subordinated bond was named  NZ Debt Market Issue of the Year, as determined by an expert judging panel at the 2018 INFINZ awards.

"We’re delighted to receive the award. Issuing the bonds has been an essential step in Genesis achieving its transformational objectives as we focus on being New Zealanders’ first choice for energy management.The offer reflects our focus on repositioning Genesis’ capital structure to better support growth. We met all of our objectives for the bonds. The issue was well received by the market, with our book oversubscribed 2.7 times by both retail and institutional investors. We raised $225m and retained our BBB+ credit rating and we’ve successfully negotiated a Dividend Reinvestment Plan with the Crown," Chris Jewell, Chief Financial Officer, Genesis

The capital bond offer was a key element in Genesis’ wider strategy supporting its capital structure. Genesis’ overall transformation and execution on strategy has been well received by the market. Total shareholder return for the 12 months ended 31 December has been 29.2 per cent, against the NZX50’s total return of 22.0 per cent.

Genesis was also a finalist in the Merger and Acquisition of the Year category for its package of six $585m integrated gas, oil and LPG deals.  

Media contact

Name

Emma-Kate Greer

Role

Communications Manager

Company

Genesis

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