PFI Sets Interest Rate for Bond Offer

NZX listed industrial property landlord Property for Industry Limited (PFI) has announced that, following a successful bookbuild for its offer of senior secured fixed rate 7-year bonds, $100 million of bonds have been allocated to participants in the bookbuild process. This includes oversubscriptions of $25 million (which is 100% of the amount available for oversubscription). The interest rate has been set at 4.59% per annum. This reflects a margin of 1.65% per annum above the 7 year swap rate. The bonds are expected to be quoted on the NZX Debt Market under the ticker code PFI010. The offer will open Monday, 13 November 2017 and is scheduled to close on Friday, 24 November 2017. As announced previously, there is no public pool available for the offer. A copy of the final terms sheet for the offer is attached. Further details of the offer are contained in the Product Disclosure Statement (PDS) for the bonds. The PDS is 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. 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 Final terms sheet End CA:00310138 For:PFI Type:OFFER Time:2017-11-10 11:54:48