Kiwi Property Lodges PDS for Green Bond Offer

Kiwi Property Group Limited (KPG) today announced an offer (Offer) of up to NZ$100 million (with the ability to accept oversubscriptions of up to NZ$25 million at its discretion) of 6.5-year fixed-rate senior secured green bonds (Green Bonds) to institutional and New Zealand retail investors.

The Offer is expected to open on 14 March 2023 and close on 17 March 2023.

The Green Bonds have a credit rating of BBB+ from S&P Global Ratings Australia Pty Limited (S&P). KPG has a long-term credit rating from S&P of BBB (stable outlook).

Details of the Offer are contained in the product disclosure statement dated 6 March 2023 (PDS) which was lodged today and has been provided to NZX with this announcement. Investors must obtain the PDS before they decide to acquire any Green Bonds.

The PDS is also available at kiwiproperty.com/corporate/green-bond or by contacting a Joint Lead Manager or your usual financial advice provider.

There is no public pool for the Offer, with all the Green Bonds being reserved for clients of the Joint Lead Managers, Primary Market Participants and other approved financial intermediaries.

Investors can register their interest by contacting a Joint Lead Manager or their usual financial advice provider.

The Offer is being made in accordance with the Financial Markets Conduct Act 2013 and the Green Bonds are expected to be quoted on the NZX Debt Market.

In addition to the PDS, copies of the indicative terms sheet and the investor presentation for the Green Bonds have been provided to NZX with this announcement.

Arranger, Green Bond Co-ordinator and Joint Lead Manager:
ANZ Bank New Zealand Limited
0800 269 476

Joint Lead Managers:
Commonwealth Bank of Australia
0800 272 266

Craigs Investment Partners Limited
0800 226 263

Forsyth Barr Limited
0800 367 227

ENDS

Contact us for further information:

Campbell Hodgetts
Head of Communications and Investor Relations
[email protected]
+64 275 634 985

About us:

Kiwi Property (NZX: KPG) is one of the largest listed property companies on the New Zealand Stock Exchange and is a member of the S&P/NZX 20 Index. We’ve been around for over 25 years and proudly own and manage a significant real estate portfolio, comprising some of New Zealand’s best mixed-use, retail and office buildings. Our objective is to provide investors with a reliable investment in New Zealand property through the ownership and active management of a diversified, high-quality portfolio. S&P Global Ratings has assigned Kiwi Property a corporate credit rating of BBB (stable) and an issue credit rating of BBB+ for each of its fixed rate senior secured bonds. Kiwi Property is licensed under the Real Estate Agents Act 2008. To find out more, visit our website kp.co.nz

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Announcement PDF