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

 


Kiwi Capital Funding Limited Capital Note Offer

14 May 2014

Kiwi Capital Funding Limited Capital Note Offer

Kiwi Capital Funding Limited (KCFL) has today announced that the bookbuild for its unsecured subordinated Capital Note offer has been well received by investors, and confirmed that the whole offer amount of $100 million has been reserved for clients of participants in the bookbuild process who have received firm allocations.

KCFL has set the Margin and interest rate for the Capital Notes. The Margin is 2.15% per annum and the interest rate will be 6.61% per annum for the first five years until the reset date of 15 July 2019.*

The offer opens on Thursday 15 May and closes on Tuesday 3 June at 5pm. Investors will be paid early bird interest on the Capital Notes at 6.61% 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 KCFL’s Investment Statement for the Capital Notes, investors should contact one of the Joint Lead Managers to the offer (listed below) or their usual financial adviser.
• Deutsche Craigs Limited: 0800 226 263
• Forsyth Barr Limited: 0800 367 227

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 Capital Notes is 5,000 Capital Notes 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 Capital Notes.

Application has been made to NZX Limited (NZX) for permission to quote the Capital Notes on the NZX Debt Market and all the requirements of NZX relating thereto that can be complied with on or before the date of this announcement have been duly complied with. However, NZX accepts no responsibility for any statement in this announcement. The NZX Debt Market is a registered market operated by NZX which is a registered exchange, regulated under the Securities Markets Act 1988.

*The returns on the Capital Notes will be derived from the performance of the Kiwibank Bonds issued to KCFL by Kiwibank and may change if Kiwibank experiences severe financial difficulty. Additional information about Kiwibank is contained or referred to in Kiwibank’s latest interim and full year Disclosure Statements available at www.kiwibank.co.nz/about-us/legal-docs or any branch of Kiwibank. The Capital Notes are not guaranteed by Kiwibank or New Zealand Post or any other person.

ENDS

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Budget Policy Statement: Spending Wins Over Tax Cuts; Big Ticket Items Get Boost

Income tax cuts are on hold as the government says “responding to the earthquakes and reducing debt are currently of higher priority”, although election year tax sweeteners remain possible. More>>

ALSO:

Fishy: Is Whitebaiting Sustainable?

The whitebait fry - considered a delicacy by many - are the juveniles of five species of galaxiid, four of which are considered threatened or declining. The SMC asked freshwater experts for their views on the sustainability of the whitebait fishery and whether we're doing enough to monitor the five species of galaxiid that make up whitebait. More>>

ALSO:

Crown Accounts: Smaller-Than-Expected Four-Month Deficit

The New Zealand government's accounts recorded a smaller-than-forecast deficit in the first four months of the fiscal year on a higher-than-expected inflow of corporate and goods and services tax. More>>

ALSO:

On For Christmas: KiwiRail Ferries Back In Full Operation After Quake

KiwiRail’s Interislander ferries are back in full operation for the first time since the Kaikoura earthquake, with the railspan that allows rail wagons to be loaded on the Aratere now restored. More>>

ALSO:

Comerce Commission Investigation: Prosecutions Over Steel Mesh Labelling

Steel & Tube Holdings, along with two other companies, will be prosecuted by the Commerce Commission following the regulator's investigation into seismic steel mesh, while Fletcher Building's steel division has been given a warning. More>>

ALSO:

Wine: 20% Of Marlborough Storage Tanks Damaged By Quake

An estimated 20 percent of wine storage tanks in the Marlborough region, the country’s largest wine producing area, have been damaged by the impact of the recent Kaikoura earthquake. More>>

ALSO:

ACC: Levy Recommendations For 2017 – 2019 Period

• For car owners, a 13% reduction in the average Motor Vehicle levy • For businesses, a 10% reduction in the average Work levy, and changes to workplace safety incentive products • For employees, due to an increase in claims volumes and costs, a 3% increase in the Earners’ levy. More>>

Get More From Scoop

 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news