Kiwibank Limited perpetual preference share offer – Margin and Distribution Rate set

21/10/2021

Kiwibank Limited (Kiwibank) has today announced that the bookbuild for its offer of perpetual preference shares (PPS) has been completed and confirmed that $250 million has been reserved for clients of those participants in the bookbuild process who have received firm allocations.

The Margin for the PPS has been set at 2.60% per annum and the Distribution Rate for the first five years at 4.93% per annum. For so long as the PPS remain outstanding, the Distribution Rate will be reset at five-yearly intervals to be equal to the applicable Swap Rate and the same Margin.

The Issue Date for the PPS is 2 November 2021. The PPS are expected to be quoted on the NZX Debt Market under the ticker code KWBHA on 3 November 2021.

Details of the offer and the PPS are contained in the Product Disclosure Statement, available at www.kiwibank.co.nz/about-us/governance/investor-centre/kiwibank-capital-instruments/ and on the online Disclose Register maintained by the Companies Office (www.business.govt.nz/disclose offer number OFR13177) or by contacting one of the Joint Lead Managers or the Co-Manager to the offer (listed below) or your usual financial adviser.

Joint Lead Managers

Co-Manager

0800 555 555


Enquiries:

Geoff Martin, Head of Funding - 04 439 6932, geoff.martin@kiwibank.co.nz

Kara Tait , External Communications Manager - 027 475 3521, kara.tait@kiwibank.co.nz