Property for Industry Limited Launches Bond Offer

PROPERTY FOR INDUSTRY LIMITED LAUNCHES BOND OFFER

Property for Industry Limited (PFI) announced today that it is offering up to $100,000,000 (with the ability to accept oversubscriptions of up to an additional $50,000,000 at PFI’s discretion) of 5.5 year, senior secured fixed rate bonds (Bonds) to New Zealand retail and institutional investors and Australian institutional investors.

The offer opens today and will be made pursuant to the Financial Markets Conduct Act 2013 as an offer of debt securities of the same class as existing quoted debt securities. The Bonds are expected to be quoted on the NZX Debt Market under the ticker code PFI030.

The Interest Rate for the Bonds will be equal to the sum of the Base Rate plus the Issue Margin, subject to a minimum Interest Rate of 5.15% per annum.

The indicative Issue Margin range for the Bonds is 1.65% to 1.75% per annum. An announcement of the actual Issue Margin (which may be within, above or below the indicative Issue Margin range) and Interest Rate is expected to be made via NZX on 6 March 2025 following a bookbuild process. The Bonds are expected to be issued on 13 March 2025.

Full details of the Bond offer are contained in the indicative terms sheet which is attached, along with the investor presentation. The offer documents are available through www.pfibondoffer.co.nz.

There is no public pool for the offer, with all the Bonds reserved for clients of the Joint Lead Managers, Primary Market Participants and other approved financial intermediaries. Interested investors should contact one of the Joint Lead Managers (details below) or their financial advice provider for more details.

Arranger and Joint Lead Manager:
- Westpac - Phone: 0800 772 142

Joint Lead Managers
- Commonwealth Bank of Australia - Phone: 0800 272 266
- Craigs Investment Partners Limited - Phone: 0800 272 442
- Forsyth Barr Limited - Phone: 0800 367 227

ENDS

ABOUT PFI & CONTACT

PFI is an NZX listed property vehicle specialising in industrial property. PFI’s nationwide portfolio of 91 properties is leased to around 124 tenants.

For further information please contact:

SIMON WOODHAMS
Chief Executive Officer
----
Phone: +64 21 749 770
Email: [email protected]

CRAIG PEIRCE
Chief Finance and Operating Officer
----
Phone: +64 21 248 6301
Email: [email protected]

Property for Industry Limited
Level 4, Hayman Kronfeld Building, 15 Galway Street, Auckland 1010
PO Box 1147, Shortland Street, Auckland 1140
www.propertyforindustry.co.nz

---

Announcement PDF