Sharechat Logo

Kiwi Property Group Limited (NZX: KPG) Launches Green Bond Offer

Monday 5th July 2021

Text too small?

Kiwi Property Group Limited today announced it is offering up to NZ$100 million (plus up to NZ$50 million of oversubscriptions) of seven-year fixed-rate senior secured green bonds (Green Bonds) to institutional 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 interest rate for the Green Bonds will be set on the rate set date as being equal to the base rate plus the margin, subject to a minimum interest rate of 2.85% per annum. The indicative margin range is 1.35% to 1.50% per annum. An announcement of the actual margin and interest rate is expected to be made via NZX on 9 July 2021 following a bookbuild process.

Full details of the Green Bond offer are contained in the attached indicative terms sheet and at www.kiwiproperty.com/corporate/investor-centre/green-bond

The Green Bonds are expected to be quoted on the NZX Debt Market and assigned a BBB+ credit rating by S&P Global Ratings.

There is no public pool for the offer, with all the Green Bonds reserved for clients of the Joint Lead Managers, NZX participants and other approved financial intermediaries. Interested investors should contact a Joint Lead Manager (details below) or their financial adviser for more details.

The offer is expected to close on 9 July 2021.

Please see the links below for details

Kiwi Property launches Green Bond offer

Kiwi Property Green Bond Presentation

Kiwi Property Green Bond Terms Sheet

Source: Kiwi Property Group Limited



  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

New Zealand Rural Land Company Limited (NZX: NZL) Agreement to acquire large scale dairy asset portfolio
EROAD Limited (NZX: ERD) launches Clarity Solo Dashcam
22nd October 2021 Morning Report
Pictor ready to roll out game-changing COVID antibody test in New Zealand
Scott Technology Limited (NZX: SCT) Announces FY21 Results
21st October 2021 Morning Report
Greenfern Industries Limited (NZX: GFI) L&Q Notice
TruScreen Group Limited (NZX: TRU) Clinical Trial Results Highlight Efficacy of TRU Technology
20th October 2021 Morning Report
Freightways Limited (NZX: FRE) Acquisition of ProducePronto