Partial Cancellation of Bank Facility, Bond Hedging

NZX and media
announcement
—
1 October 2018


PARTIAL CANCELLATION OF BANK FACILITY,
BOND HEDGING

NZX listed industrial property landlord Property for Industry Limited (PFI, the Company) has announced
that, following today’s allotment of $100 million of senior secured fixed rate 7-year bonds, the Company
has cancelled $100 million of bank facilities that were due to expire on 4 May 2020.

Post the allotment of the bonds and partial cancellation of the bank facilities, the weighted average term
to expiry of PFI’s bonds and bank facilities has increased to 4.1 years as at today’s date, as illustrated
in the graph below.

Debt facility maturity profile ($m):



PFI also confirmed that the bonds issued today
1
were swapped back to float interest rates via fixed rate
receiver swaps.

Further details of PFI’s bonds can be found at www.pfibondoffer.co.nz.

ENDS


ABOUT PFI & CONTACT

PFI is an NZX listed property vehicle specialising in industrial property. PFI’s nationwide portfolio of 93 properties is leased to
146 tenants.

For further information please contact:

SIMON WOODHAMS CRAIG PEIRCE
General Manager Chief Financial Officer and Company Secretary
--- ---
Phone: +64 9 303 9652 Phone: +64 9 303 9651
Email: woodhams@pfi.co.nz Email: peirce@pfi.co.nz
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Property for Industry Limited
Shed 24, Prince’s Wharf, 147 Quay Street, Auckland 1010
PO Box 1147, Shortland Street, Auckland 1140
---
www.propertyforindustry.co.nz
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1
The bonds issued today have an interest rate of 4.25% per annum, which reflects a margin of 1.60% per annum
above the seven-year swap rate.