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

 


Kiwibank Subordinated Bond Offer

MEDIA RELEASE


13 November 2012

Kiwibank Subordinated Bond Offer

Kiwibank Limited has today announced that the bookbuild for its Subordinated Bond offer has been well received by investors, and confirmed that the whole offer amount of $150 million has been reserved for clients of participants in the bookbuild process who have received firm allocations. There will be no public pool.

Kiwibank has set the interest rate and margin for the Subordinated Bonds. The interest rate will be 5.80% per annum for the first five years until the rate reset date of 15 December 2017 and the margin is 2.77% per annum.

The offer opens on Wednesday 14 November and closes on Wednesday 5 December at 5pm. Investors will be paid early bird interest on the Subordinated Bonds at 5.80% per annum from the time their application money is banked. Investors are therefore encouraged to lodge their applications as soon as possible to take advantage of this.

To obtain Kiwibank’s Investment Statement for the Subordinated Bonds, investors should contact one of the Joint Lead Managers or Co-Managers to the offer (listed below) or talk to their usual financial adviser.

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

• Kiwibank Limited (Joint Lead Manager) 0800 756 829

• ANZ (Co-manager) 0800 269 476

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

ENDS

All applicants will need to complete the application form that accompanies the Investment Statement. Applications will not be accepted until the opening date for the offer. The minimum holding for the Subordinated Bonds is 5,000 Subordinated Bonds and applications must be for a minimum of $5,000 and in multiples of $1,000 thereafter. You should read the whole of the Investment Statement before deciding whether to apply for Subordinated Bonds.

Additional information about Kiwibank is contained or referred to in Kiwibank’s latest Disclosure Statement & Annual Report available free of charge from Kiwibank’s website www.kiwibank.co.nz or any branch of Kiwibank.


© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Scoop Business: RBNZ Keeps OCR At 3.5%, Signals Slower Pace Of Future Hikes

Reserve Bank governor Graeme Wheeler kept the official cash rate at 3.5 percent and signalled he won’t be as aggressive with future rate hikes as previously thought as inflation remains tamer than expected. The kiwi dollar fell to a seven-month low. More>>

ALSO:

Weather: Dry Spells Take Hold In South Island

Many areas in the South Island are tracking towards record dry spells as relatively warm, dry weather that began in mid-August continues... for some South Island places, the current period of fine weather is quite rare. More>>

ALSO:

Scoop Business: Productivity Commission To Look At Housing Land Supply

The Productivity Commission is to expand on its housing affordability report with an investigation into improving land supply and development capacity, particularly in areas with strong population growth. More>>

ALSO:

Forestry: Man Charged After 2013 Death

Levin Police have arrested and charged a man with manslaughter in relation to the death of Lincoln Kidd who was killed during a tree felling operation on 19 December 2013. More>>

ALSO:

Smells Like Justice: Dairy Company Fined Over Odour

Dairy company fined over odour Dairy supply company Open Country Dairy Limited has been convicted and fined more than $35,000 for discharging objectionable odour from its Waharoa factory at the time of last year’s ”spring flush” when milk supply was high. More>>

Scoop Business: Dairy Product Prices Decline To Lowest Since July 2012

Dairy product prices dropped to the lowest level since July 2012 in the latest GlobalDairyTrade auction, led by a slump in rennet casein and butter milk powder. More>>

ALSO:

SOE Results: TVNZ Lifts Annual Profit 25% On Flat Ad Revenue, Quits Igloo

Television New Zealand, the state-owned broadcaster, lifted annual profit 25 percent, ahead of forecast and despite a dip in advertising revenue, while quitting its stake in the pay-TV Igloo joint venture with Sky Network Television. More>>

ALSO:

Get More From Scoop

 
 
Computer Power Plus

Standards New Zealand

Standards New Zealand

Mosh Social Media
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news