Financing Update

NZX and media
announcement
—
14 August 2024

Page 1

FINANCING UPDATE
Property for Industry Limited (PFI, the Company) is pleased to announce the refinancing of the
Company’s $300M Syndicated Bank Facilities. The facilities, provided by the Company’s long-term
banking partners ANZ Bank New Zealand Limited (ANZ), Bank of New Zealand (BNZ), Commonwealth
Bank of Australia (CBA) and Westpac New Zealand Limited, have been extended to expire in August
2028 and 2029, being four- and five-year terms, respectively.

PFI also announces that it has refinanced the Company’s short-term Bank of New Zealand facility,
converting and increasing this facility into a $100M Syndicated Bank Facility, also provided by ANZ,
BNZ, CBA and Westpac, with an expiry date of August 2027, a three-year term.

Finally, the expiry date of the Company’s Term Loan with CBA has also been extended from April 2028
to August 2029, a five-year term.

PFI’s financing facilities, as at 14 August 2024, are detailed below:

Pre-refinance Post-refinance
Bond / bank facility Expiry Amount Expiry Amount
PGIM, Inc Drawdown January 2033 $25M January 2033 $25M
CBA Bank Facility May 2031 $50M May 2031 $50M
PGIM, Inc Drawdown December 2029 $25M December 2029 $25M
CBA Term Loan
(new)
- - August 2029 $125M
CBA Term Loan (old) April 2028 $125M - -
Syndicated Bank
Facility (new)
- - August 2029 $150M
Syndicated Bank
Facility (new)
- - August 2028 $150M
Syndicated Bank
Facility (new)
- - August 2027 $100M
Westpac Green Loan
Facility
July 2027 $75M July 2027 $75M
BNZ Green Term
Loan
July 2027 $25M July 2027 $25M
ANZ & CBA Green
Loan Facility
July 2026 $50M July 2026 $50M
Syndicated Bank
Facility (old)
July 2026 $150M - -
PFI020 Bond October 2025 $100M October 2025 $100M
Syndicated Bank
Facility (old)
July 2025 $150M - -
BNZ Bank Facility
(old)
March 2025 $25M - -
PFI010 Bond November 2024 $100M November 2024 $100M

Total: $900M Weighted
average expiry:
3.6 years
Total: $975M

NZX and media
announcement
—
14 August 2024

Page 2

Further details will be provided when PFI releases its results for the six months to 30 June 2024 to the
New Zealand Stock Exchange (NZX) on 26 August 2024.

ENDS





























ABOUT PFI & CONTACT

PFI is an NZX listed property vehicle specialising in industrial property. PFI’s nationwide portfolio of 91 properties is leased to
around 126 tenants.

For further information please contact:

SIMON WOODHAMS
Chief Executive Officer
--- -
Phone: +64 21 749 770
Email: woodhams@pfi.co.nz
CRAIG PEIRCE
Chief Finance and Operating Officer
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Phone: +64 21 248 6301
Email: peirce@pfi.co.nz
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Property for Industry Limited
Level 4, Hayman Kronfeld Building, 15 Galway Street,
Auckland 1010
PO Box 1147, Shortland Street, Auckland 1140
www.propertyforindustry.co.nz