Kiwi Property offers $100m in green bonds

Kiwi Property has announced the offer of up to $100 million in fixed-rate senior secured green bonds.

The offer, which is open to institutional and New Zealand retail investors, includes the option for up to $25m in oversubscriptions.

The green bonds have a 5.5-year maturity and are expected to be quoted on the NZX Debt Market.

The indicative margin range for the bonds is 1.7% to 1.8% per annum, with a minimum interest rate of 5.35% per annum.

The offer is reserved for clients of the joint lead managers, NZX participants, and other approved financial intermediaries.

It is expected to close on December 5, 2024.

Kiwi Property is one of the largest listed property companies in New Zealand.