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

 

Final Frontier: Rocket Lab And NASA Sign Commercial Space Launch Agreement

Rocket Lab has signed a Commercial Space Launch Act Agreement with the National Aeronautics and Space Administration (NASA). The agreement enables Rocket Lab to use NASA resources - including personnel, facilities and equipment - for launch and reentry efforts. More>>

ALSO:

Scoop Business: Wheeler Downplays Scope For ‘Large’ Rates Fall

Reserve Bank governor Graeme Wheeler says some market commentators are predicting further declines in interest rates that would only make sense for an economy in recession, although some easing is likely to be needed to maintain New Zealand’s economic growth. More>>

ALSO:

Ruataniwha Dam: Consent Conditions Could Mean Reduced Intensity

Legal advice sought by the Hawke’s Bay Regional Council on the Ruataniwha Dam consent conditions has confirmed that farmers who sign up to take water from the dam could be required to reduce the intensity of their farming operation to meet the catchment’s strict nitrogen limit. More>>

Health And Safety: Bill Now Sees Rules Relaxed For Small Businesses

Health and safety law reform sparked by the Pike River coalmine disaster has been reported back from the industrial relations select committee with weakened requirements on small businesses to appoint health and safety representatives and committees. More>>

ALSO:

Bearing Fruit: Annual Fruit Exports Hit $2 Billion For First Time

The value of fruit exported rose 20 percent (up $330 million) for the June 2015 year when compared with the year ended June 2014. Both higher prices and a greater quantity of exports (up 9.0 percent) contributed to the overall rise. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news