ANZO completes successful capital-raising

June 8, 2009

AMP NZ Office Trust (“ANZO”) advises that it has successfully raised $201.3 million in new equity capital through a pro-rata renounceable rights issue (“Rights Issue”) which closed on 4 June 2009.

For the purposes of NZSX Listing Rule 7.14.1, ANZO advises the following in respect of the Rights Issue for 309,635,422 new units:

• Subscriptions received: 295,048,358 ordinary units totaling NZ$191,781,432.70, representing a take-up rate of approximately 95.3% 

• Under-subscription: 14,587,064 ordinary units totaling NZ$9,481,591.60, representing a shortfall of approximately 4.7%

In accordance with the terms of the underwriting agreement between First NZ Capital Securities Limited (“First NZ Capital”) and ANZO dated 7 May 2009, the 4.7% under-subscription will be taken up in full by the underwriter, First NZ Capital, and its sub-underwriters.

Chairman Craig Stobo commented that he was pleased with the strong level of take-up under the offer.  “Unit holders have demonstrated clear support for ANZO and the strategic decision taken to raise capital at this time.”

“The Rights Issue will allow ANZO to strengthen its balance sheet.  The capital raised will be used to pay down bank debt and as a consequence reduce gearing, creating a stronger position to weather challenging market conditions and better enable it to take advantage of any market recovery in the future.”

The new units are to be issued on 11 June 2009 with holding statements to be dispatched to unit holders on the same date or shortly thereafter.

About ANZO
ANZO is New Zealand’s largest listed investor in prime and A-grade commercial office property. A unit trust listed on NZSX, ANZO currently owns 15 New Zealand office buildings with a total gross value of more than $1.4 billion – Auckland’s PricewaterhouseCoopers Tower, ANZ Centre, IAG House, AMP Centre and 21 Queen Street; and Wellington’s State Insurance Tower, Vodafone on the Quay, HP Tower, 125 The Terrace, No. 1 and 3 The Terrace, Pastoral House, Mayfair House, AXA Centre, Deloitte House and Chews Lane.