Kiwi Property concludes bank debt extensions

NZX RELEASE
27 March 2020
Kiwi Property concludes bank debt extensions


Kiwi Property has successfully refinanced $147 million of bank debt facilities with HSBC and
CBA. The facilities were previously due to expire in the 2021 and 2022 financial years and
have been extended on three and five-year terms.
On Monday, the company announced it had also extended $214 million of facilities with
ANZ, BNZ and Westpac. Kiwi Property now has no bank debt maturities until the 2023
financial year. The weighted average term of all debt facilities now sits at 3.9 years. The
company has $303 million in undrawn credit lines and a current gearing ratio of 29.2%, well
within its target range of 25%-35%.

> Ends


Contact us for further information
Campbell Hodgetts
Communications & Investor
Relations Lead
campbell.hodgetts@kp.co.nz
0275634985



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 20 Index. We’ve been around for over 25 years
and we proudly own and manage a $3.3 billion portfolio of real estate, comprising some of
New Zealand’s best mixed-use, retail and office buildings. Our objective is to provide investors
with a reliable investment in New Zealand property 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 the highest rated New Zealand company
within CDP (Carbon Disclosure Project) and is a member of FTSE4 Good, a series of
benchmarks and tradeable indices for ESG (Environmental, Social and Governance) investors.
Kiwi Property is licensed under the Real Estate Agents Act 2008. To find out more, visit our
website kp.co.nz