PFI Lodges Product Disclosure Statement for Bond Offer

PFI LODGES PRODUCT DISCLOSURE STATEMENT FOR BOND OFFER NZX listed industrial property landlord Property for Industry Limited (PFI) has announced an offer of up to $75 million (with the ability to accept up to an additional $25 million in oversubscriptions at PFI's discretion) of senior secured fixed rate 7-year bonds, to institutional and New Zealand retail investors. The offer is expected to open on Monday, 13 November 2017 and to close on Friday, 24 November 2017. The indicative margin range above the 7-year swap rate for the bonds is 1.65% to 1.80% per annum, subject to a minimum interest rate of 4.55% per annum. The margin and interest rate will be set following a bookbuild process on Friday, 10 November 2017 and will be announced by PFI via NZX shortly thereafter. The bonds are expected to be quoted on the NZX Debt Market. Details of the offer are contained in the Product Disclosure Statement (PDS) which was lodged today. The PDS is attached and available through www.pfibondoffer.co.nz or by contacting a Joint Lead Manager, and must be obtained by investors before they decide to acquire any bonds. Copies of PFI's roadshow presentation and indicative terms sheet are also attached and available through www.pfibondoffer.co.nz. There is no public pool for the offer, with all of the bonds being reserved for clients of the Joint Lead Managers, NZX participants and other approved financial intermediaries. Interested investors should contact a Joint Lead Manager as listed below, or their financial advisor, for more details. Arranger and Joint Lead Manager: Forsyth Barr - Phone: 0800 367 227 Joint Lead Managers: Bank of New Zealand - Phone: 0800 284 017 Deutsche Craigs - Phone: 0800 226 263 ENDS ABOUT PFI & CONTACT PFI is New Zealand's only listed company specialising in industrial property. PFI's portfolio of 92 properties located in Auckland, Hamilton, Mount Maunganui, New Plymouth, Napier, Wellington, Nelson, Blenheim and Christchurch is leased to 148 tenants. For further information please contact: SIMON WOODHAMS General Manager --- Phone: +64 9 303 9652 Email: woodhams@pfi.co.nz --- CRAIG PEIRCE Chief Financial Officer and Company Secretary --- Phone: +64 9 303 9651 Email: peirce@pfi.co.nz --- Property for Industry Limited Shed 24, Prince's Wharf, 147 Quay Street, Auckland 1010 PO Box 1147, Shortland Street, Auckland 1140 --- www.propertyforindustry.co.nz ATTACHMENTS Product disclosure statement Indicative terms sheet Roadshow presentation End CA:00309679 For:PFI Type:OFFER Time:2017-11-02 10:48:06