Kiwibank Capital Instruments

Information on capital instruments issued by Kiwibank.

Perpetual preference shares

Issuer

Kiwibank Limited

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).

Subordinated notes

Issuer

Kiwibank Limited

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.

Announcements

Offer Announcement - 30 November 2020

Rate-set Announcement – 4 December 2020

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

Phone: +64 9 375 5998 (for investor enquiries)

Fax: +64 9 375 5990

Visit: linkmarketservices.co.nz