Government to sell remaining NZ$1.16bn UFB funding securities in Chorus

The New Zealand government has announced that a sale process will commence for the Ultra-Fast Broadband (UFB) funding securities it holds in Chorus Limited. This decision follows a recommendation accepted by the minister of finance and the minister for infrastructure from the board of National Infrastructure Funding and Financing (NIFFCO).

The securities have a total face value of NZ$1.16 billion, representing the remaining balance of funding provided by the Crown for the UFB rollout. This balance follows a NZ$170 million repayment by Chorus earlier this year. Chorus anticipates no material change to the terms and conditions of the securities as a result of the sale process.

For further information, interested parties can contact Shannon Goldstone, head of corporate relations, or Aleida White, head of investor relations, at Chorus.