Heartland considers an institutional and retail note offer

Heartland Bank Limited considers an institutional and retail note offer Date 25 March 2019 Release Immediate Heartland Bank Limited ("Issuer"), has today announced that it is considering making an offer of unsecured, unsubordinated, medium term, fixed rate notes ("Notes") to institutional and New Zealand retail investors. The Notes are expected to have a maturity of 5 years. It is expected that full details of the offer will be released in the week beginning 1 April 2019, when the offer is anticipated to open. If the offer is made, the offer will be made in accordance with the Financial Markets Conduct Act 2013 as an offer of debt securities of the same class as quoted debt securities (being the Issuer's fixed rate notes which are quoted on the NZX Debt Market under ticker code HBL010). The Notes are expected to be quoted on the NZX Debt Market. Bank of New Zealand has been appointed the Arranger, and Bank of New Zealand, Commonwealth Bank of Australia (acting through its New Zealand Branch), Deutsche Craigs Limited and Westpac Banking Corporation (ABN 33 007 457 141) (acting through its New Zealand branch) have been appointed as Joint Lead Managers. Investors can register their interest in the offer by contacting one of the Joint Lead Managers (details below), a NZX Primary Market Participant, or their usual financial advisor. Indications of interest will not constitute an obligation or commitment of any kind to acquire Notes. No money is currently being sought and no Notes can be applied for or acquired until the intended offer opens and the investor receives a copy of the terms sheet in relation to the Notes. End Joint Lead Managers o BNZ 0800 284 017 o Commonwealth Bank of Australia (acting through its New Zealand Branch) 0800 272 633 o Deutsche Craigs Limited 0800 226 263 o Westpac Banking Corporation (ABN 33 007 457 141) (acting through its New Zealand branch) 0800 942 822 Heartland Bank Limited Michael Drumm General Counsel Michael.Drumm@heartland.co.nz T: (09) 927 9136 End CA:00332418 For:HBL Type:OFFER Time:2019-03-25 09:44:49