Indicative Margin & Minimum Interest Rate for Green Bonds

Kiwi Property Group Limited (KPG) has announced the indicative margin range and minimum interest rate for its offer of up to NZ$100 million (with the ability to accept oversubscriptions of up to NZ$25 million) of 6.5-year fixed-rate senior secured green bonds.

The minimum interest rate is set at 6.00% per annum, with the indicative margin range at 1.75% to 1.85% per annum.

The actual margin and interest rate will be determined following a bookbuild process, with the Offer expected to close on 17 March 2023 and the bonds issued on 27 March.

The bonds have a BBB+ credit rating from S&P Global Ratings Australia Pty Limited, with KPG having a long-term credit rating of BBB (stable outlook).

The Offer is reserved for clients of the Joint Lead Managers, Primary Market Participants and other approved financial intermediaries.

A Product Disclosure Statement is available from the KPG website and all investors must obtain the PDS before deciding to acquire any Green Bonds.