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Precinct Properties New Zealand Limited (NZX: PCT) Launches Retail Green Bond Offer

Monday 17th May 2021

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Precinct Properties New Zealand Limited has announced an offer of up to NZ$100,000,000 (with the ability to accept up to an additional NZ$50,000,000 in oversubscriptions at Precinct’s discretion) of secured, unsubordinated, fixed rate six year green bonds (Green Bonds) to institutional investors and New Zealand retail 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 indicative margin range for the Green Bonds is 1.45% to 1.60% per annum over the underlying swap rate, subject to a minimum interest rate of 2.85% per annum. The margin and interest rate is expected to be set on 21 May 2021 following a bookbuild process and will be announced by Precinct via NZX shortly thereafter.

The Green Bonds are expected to be quoted on the NZX Debt Market.

Please see the links below for details

Precinct launches retail green bond offer

Indicative Terms Sheet

Green Bond Presentation

Source: Precinct Properties New Zealand Limited



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