Sunday, 18 February 2018

Announcement

GENERAL: KPG: Kiwi Property reduces bank debt facilities

20 Dec 2017 15:48NZX
Following the successful completion of Kiwi Property''s $125 million
seven-year fixed-rate senior secured bond offer, the Company has today
cancelled $133 million of existing bank debt facilities.  The facilities with
ANZ, BNZ, CBA and Westpac were due to expire in November 2018.

The cancellation of the bank debt facilities, combined with the bond offer,
has increased the Company''s weighted average debt maturity by 0.6 years to
3.9 years.

The Company''s debt maturity profile is shown in the attached announcement.

> Ends

CONTACT US FOR FURTHER INFORMATION

Gavin Parker
Chief Operating Officer
gavin.parker@kp.co.nz
+64 9 359 4012

Stuart Tabuteau
Chief Financial Officer
stuart.tabuteau@kp.co.nz
+64 9 359 4025

ABOUT US

Kiwi Property (NZX: KPG) is the largest listed property company on the New
Zealand Stock Exchange and is a member of the S&P/NZX 15 Index.  We''ve been
around for more than 20 years and we proudly own and manage a $2.9 billion
portfolio of real estate, comprising some of New Zealand''s best shopping
centres and prime office buildings.  Our objective is to provide investors
with a reliable investment in New Zealand property by targeting superior
risk-adjusted returns over time through the ownership and active management
of a diversified, high-quality portfolio.  S&P Global Ratings has assigned
Kiwi Property a corporate credit rating of BBB (stable) and an issue credit
rating of BBB+ for each of its fixed rate senior secured bonds.  Kiwi
Property is licensed under the Real Estate Agents Act 2008.  To find out
more, visit our website kp.co.nz
End CA:00312246 For:KPG    Type:GENERAL    Time:2017-12-20 15:48:17
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Kiwi Property Group
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