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$100m reserved for bookbuild clients

Kiwibank’s capital note offer has been well-received by investors, it said today.

Wednesday, 14 May 2014

Kiwi Capital Funding confirmed the whole $100 million of unsecured subordinated capital notes on offer had been reserved for clients of participants in the bookbuild process.

The margin is 2.15% per annum and the interest rate will be 6.61% per annum for the first five years.

The offer opens tomorrow and closes June 3.

Investors will be paid early-bird interest on the Capital Notes at 6.61% per annum from the time their application money is banked.

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