Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Kiwibank Announces Subordinated Bond Offer

MEDIA RELEASE


5 November 2012

Kiwibank Announces Subordinated Bond Offer

Kiwibank Limited has today announced an offer of up to $150 million of unsecured, Subordinated Bonds to the New Zealand public. The proceeds of the offer will be used to provide Kiwibank with additional capital to meet its growth aspirations. Kiwibank intends to treat the Subordinated Bonds as 'tier 2' capital instruments under the Reserve Bank’s Basel III framework.

The Subordinated Bonds have a maturity date of 15 December 2022 but may be called by Kiwibank from 15

December 2017, and earlier in certain circumstances. The Subordinated Bonds are expected to have a credit

rating of BB+ from Standard & Poor’s.

The Subordinated Bonds will pay interest semi-annually. The Interest Rate for the first five years until 15 December 2017 and Margin will be set and announced to the market on Tuesday 13 November following a bookbuild.

The Offer is expected to open on Wednesday 14 November 2012 and close on Wednesday 5 December 2012 at 5pm. Interested investors should contact their usual financial adviser or one of the joint lead managers or co-managers to the Offer listed below to request a copy of Kiwibank’s Investment Statement for the Subordinated Bonds.

• Craigs Investment Partners Limited (Arranger and Joint Lead Manager) 0800 226 263

• Kiwibank Limited (Joint Lead Manager) 0800 756 829

• ANZ (Co-manager) 0800 ANZ IPO 0800 269 476

• Forsyth Barr Limited (Co-manager) 0800 367 227

ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Bullish On China Shock: Slumping Equities, Commodities May Continue, But Not A GFC

The biggest selloff in stock markets in at least four years, slumping commodity prices and a surge in Wall Street's fear gauge don't mean the world economy is heading for another global financial crisis, fund managers say. More>>

ALSO:

Real Estate: Investors Driving Up Auckland Housing Risk - RBNZ

The growing presence of investors in Auckland's property market is increasing the risks, and is likely to both amplify the housing cycle and worsen the potential damage from a downturn both to the financial system and the broader economy, said Reserve Bank deputy governor Grant Spencer. More>>

ALSO:

Annual Record: Overseas Visitors Hit 3 Million Milestone

Visitor arrivals to New Zealand surpassed 3 million for the first time in the July 2015 year, Statistics New Zealand said today. The record-breaking 3,002,982 visitors this year was 7 percent higher than the July 2014 year. More>>

ALSO:

The Future: Thirty Year Infrastructure Plan Released

The Thirty Year New Zealand Infrastructure Plan 2015 sets out New Zealand’s response to the infrastructure challenges we will face over the next three decades, Finance Minister Bill English says. More>>

ALSO:

Shopping: Online GST Discussion Document

GST: Cross-border services, intangibles and goods contains proposals to require overseas suppliers to register and return GST when they sell services (including online products such as e-books, music and videos) to New Zealand consumers. It also outlines the way forward for improving the collection of GST on all goods, including low-value imported goods. More>>

ALSO:

Keith Rankin: Auckland Slowdown?

Has the Auckland housing market turned? I went to a neighbourhood auction yesterday. Solid large 1950s' house on 1,000 square metres of land, sunny section, view over city from front of house, handy to train and to the expanding New Lynn retail and commercial hub. More>>

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news