Sale of UFB funding securities to proceed

17/12/2025 16:00 NZDT, GENERAL

17 December 2025

Government announces sale process for UFB funding securities will proceed

The Minister of Finance and the Minister for Infrastructure have today announced that they have accepted a recommendation from the board of National Infrastructure Funding and Financing (NIFFCo) to commence a sale process in relation to the securities NIFFCo holds in Chorus Limited.

The securities have a total face value of $1.16 billion. This represents the remaining balance of the funding the Crown provided to Chorus for the Ultra Fast Broadband rollout following the repayment of $170 million by Chorus this year.

Chorus does not anticipate any material change to the terms and conditions on which the securities were issued as a result of the sale process.

The Ministers announcement can be found here.

Authorised by:

Drew Davies

Chief Operating Officer

ENDS

For further information:

Shannon Goldstone

Head of Corporate Relations

Mobile: +64 (21) 712 679

Email: Shannon.Goldstone@chorus.co.nz

Aleida White

Head of Investor Relations

Mobile: +64 (21) 155 8837

Email: Aleida.White@chorus.co.nz