Kiwi Property confirms Green Bond offer interest rate

Kiwi Property Group Limited (NZX: KPG) today confirmed that the issue size of its seven-year fixed-rate senior secured green bond (Green Bonds) offer has been set at NZ$150 million, following a successful bookbuild process. This includes oversubscriptions of NZ$50 million. The interest rate for the Green Bonds will be 2.85% per annum, which is the minimum interest rate for the offer. The Green Bonds are expected to be quoted on the NZX Debt Market under the ticker code KPG050. Kiwi Property Chief Executive Officer, Clive Mackenzie said: "We're delighted by the very positive response to the Green Bond offer, which has been heavily oversubscribed. The high level of engagement is an endorsement of Kiwi Property and our commitment to sustainability." There was no public pool for the offer, with all Green Bonds allocated to clients of the Joint Lead Managers, NZX Participants and other approved financial intermediaries. The Green Bonds will be issued on 19 July 2021 and will mature on 19 July 2028. Please see the attached updated terms sheet for further details or visit: www.kiwiproperty.com/corporate/investor-centre/green-bond. S&P Global Ratings [NOTE 1] has assigned a BBB+ credit rating to the Green Bonds (upon issue). Arranger, Green Bond Co-ordinator and Joint Lead Manager: ANZ Ph: 0800 269 476 Joint Lead Managers: Craigs Investment Partners Ph: 0800 226 263 Forsyth Barr Ph: 0800 367 227 Westpac Ph: 0800 772 142 Ends Note: 1. Further information about S&P Global Ratings' credit rating scale is available at www.spglobal.com. A rating is not a recommendation by any rating organisation to buy, sell or hold Kiwi Property securities. Kiwi Property's corporate credit rating is current as at the date of this announcement and (together with any rating assigned to the Green bonds) may be subject to suspension, revision or withdrawal at any time by S&P Global Ratings. Contact us for further information: Gavin Parker Chief Financial Officer gavin.parker@kp.co.nz +64 9 359 4012 Campbell Hodgetts Communications and Investor Relations Lead campbell.hodgetts@kp.co.nz +64 27 563 4985 About us: Kiwi Property (NZX: KPG) is one of the largest listed property companies on the New Zealand Stock Exchange and is a member of the S&P/NZX 20 Index. We've been around for over 25 years and proudly own and manage a significant real estate portfolio, comprising some of New Zealand's best mixed-use, retail and office buildings. Our objective is to provide investors with a reliable investment in New Zealand property through the ownership and active management of a diversified, high-quality portfolio. S&P Global Ratings has assigned Kiwi Property an issuer credit rating of BBB (stable) and an issue credit rating of BBB+ for each of its fixed rate senior secured bonds. Kiwi Property is a member of FTSE4 Good, a series of benchmark and tradable indices for ESG (Environmental, Social and Governance) investors. Kiwi Property is licensed under the Real Estate Agents Act 2008. To find out more, visit our website kp.co.nz End CA:00375425 For:KPG Type:OFFER Time:2021-07-09 15:39:55