Subordinated notes
Issuer |
Kiwibank Limited |
NZX ticker code |
KWB1T2 |
Rating |
Moody’s rating of Baa2 |
Principal amount |
$200m |
Issue date |
12 May 2023 |
Margin |
2.20% |
Interest rate (for the first 5 years of the term) |
6.40% |
Interest frequency |
Quarterly |
Interest payment dates |
12 August, 12 November, 12 February, 12 May |
Payments conditional |
The payment of interest and any early repayment of the subordinated notes are subject to certain conditions being met. |
Rate Reset Date and First Optional Redemption Date |
12 May 2028 |
Maturity date |
12 May 2033 |
Details of the subordinated notes are contained in the Limited Disclosure Document for the offer, which is available at the link below. Further details of the offer are also available on the online Disclose Register maintained by the Companies Office at disclose-register.companiesoffice.govt.nz/ (offer number OFR13513).
For current trading information, please visit nzx.com.
Announcements
Rate Set announcement - 5 May 2023
Limited Disclosure Document Registration Announcement - 26 April 2023
Indicative Margin range Announcement - 2 May 2023
Documents
Limited Disclosure Document (PDF 694.9 KB)
Deed Poll (PDF 1.3 MB)
Final Terms Sheet (PDF 418.0 KB)
Investor Presentation (PDF 1.6 MB)
Perpetual preference shares
Issuer |
Kiwibank Limited |
NZX ticker code |
KWBHA |
Rating |
Moody’s rating of Ba1 |
Issue amount |
$250m |
Issue date |
2 November 2021 |
Margin |
2.60% |
Distribution rate (for the first 5 year period) |
4.93% |
Distribution frequency |
Quarterly |
Distribution payment dates |
2 February, 2 May, 2 August and 2 November |
Payments conditional |
The payment of distributions and any redemption of the perpetual preference shares are subject to certain conditions being met. |
Rate Reset and Optional Redemption Dates |
2 November 2026 and each 5-year anniversary of that date |
Maturity date |
None |
Details of the offer and the perpetual preference shares are contained in the Product Disclosure Statement for the offer, which is available at the link below. Further details of the offer are also available on the online Disclose Register maintained by the Companies Office at disclose-register.companiesoffice.govt.nz/ (offer number OFR13177).
For current trading information, please visit nzx.com.
Announcements
PDS lodgement announcement – 8 October 2021
Indicative Margin range announcement – 18 October 2021
Rate set announcement – 21 October 2021
Documents
Product Disclosure Statement (PDF 1.3 MB)
Terms of the PPS (PDF 303.7 KB)
Final Terms Sheet (PDF 860.1 KB)
Investor Presentation (PDF 3.2 MB)
Subordinated notes
Issuer |
Kiwibank Limited |
NZX ticker code |
KWB010 |
Rating |
Moody’s rating of Baa2 |
Principal amount |
$275m |
Issue date |
11 December 2020 |
Margin |
1.90% |
Interest rate (for the first 5 years of the term) |
2.36% |
Interest frequency |
Quarterly |
Interest payment dates |
11 December, 11 March, 11 June, 11 September |
Payments conditional |
The payment of interest and any early repayment of the subordinated notes are subject to certain conditions being met. |
Rate Reset and Optional Redemption Date |
11 December 2025 |
Maturity date |
11 December 2030 |
Details of the subordinated notes are contained in the Limited Disclosure Document, available on the online Disclose Register maintained by the Companies Office at disclose-register.companiesoffice.govt.nz/ (offer number OFR13006).
The Deed Poll was amended in September 2021. Download our latest Deed Poll (PDF 1.9 MB).
For current trading information, please visit nzx.com.
Registrar
The Registrar for the subordinated notes and perpetual preference shares is:
Link Market Services Limited
Level 30, PwC Tower
15 Customs Street West
Auckland 1010
PO Box 91976
Auckland 1142