PFI Retail Bond Offer

PFI RETAIL BOND OFFER NZX listed industrial property landlord Property for Industry Limited (PFI) confirmed today that it is offering up to $75 million (with the ability to accept up to an additional $25 million in oversubscriptions at PFI's discretion) of 7-year senior secured fixed rate bonds (Bonds) to New Zealand institutional and 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 notice required by the Financial Markets Conduct Regulations 2014 has been provided to the NZX. The Bonds will have a maturity date of 1 October 2025 and are expected to be quoted on the NZX Debt Market. Full details of the offer of the Bonds are contained in the indicative terms sheet which has been prepared for the offer and is also attached, along with an investor presentation on the offer. The offer documents are available through www.pfibondoffer.co.nz. The indicative issue margin range is 1.60% to 1.70% per annum, subject to a minimum interest rate of 4.15% per annum. The issue margin and interest rate for the Bonds will be set following a bookbuild process on 21 September 2018 and be announced via the NZX shortly thereafter. The offer is expected to close on 21 September 2018 following the bookbuild process, with the Bonds expected to be issued on 1 October 2018. 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. For further information please contact: Arranger and Joint Lead Manager: - Westpac - Phone: 0800 942 822 Joint Lead Managers: - Deutsche Craigs Limited - Phone: 0800 226 263 - 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 93 properties is leased to 146 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 Roadshow presentation Indicative terms sheet End CA:00323952 For:PFI Type:OFFER Time:2018-09-17 09:02:49