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News on New Investment

Kiwi Property Management Limited, has produced a Simplified Disclosure Prospectus and Flyer (together the "Offer Documents") available for an offer of NZ$100 million (plus up to NZ$25 million of oversubscriptions) of seven year fixed rate senior secured bonds ("KIP Bonds").

The proceeds from the offer will be used for general corporate purposes including the repayment of bank debt and extending the average term of KIP's funding profile.

Key details

Description: KIP Bonds are fixed rate senior secured bonds.

Credit Rating : KIP and the KIP Bonds will be unrated

Issue Amount : Up to NZ$125 million.

Maturity Date : 20 August 2021

Interest Rate: The Interest Rate, which will be a fixed rate, will be set and announced via following the bookbuild on 10 July 2014. KIP has indicated that the Interest Rate will be between 6.10% and 6.30% per annum. However the actual rate could be set within, higher or lower than this indicative range.

Interest Payment Dates: 20 February and 20 August of each year.

Minimum Application: Minimum application of NZ$5,000 and in multiples of NZ$1,000 thereafter

Expected Key Dates
• Offer Documents Available : 1 July 2014
• FMA Consideration Period Begins : 1 July 2014
• Bookbuild Date : 10 July 2014
• Announcement of Interest Rate : 10 July 2014
• Opening Date for the Offer : 11 July 2014
• Closing Date for the Offer : 5.00pm on 1 August 2014
• Listing Date : 7 August 2014