Kiwi Property to sell up to $150m of green bonds

Mon, 05 Jul 2021

Kiwi Property Group confirmed it will raise up to $150 million of seven-year green bonds from a sale to retail and institutional investors.The offer, which opens today and is expected to close on July 9, is for bonds paying at least 2.85% per annum.The indicative margin over the swap rate is 1.35% to 1.5% with the actual margin being set by a bookbuild process with institutional investors.The bonds will be listed on NZX and have a BBB+ credit rating from Standard & Poor's.There is no public pool with all bonds reserved for clients of th...

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