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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

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