1 Comment 1 CommentThe bank has issued a statement saying that Kiwi Capital Funding Limited (KCFL) is considering making an offer of up to $100 million of notes.
Proceeds of the offer of capital notes will be used to invest in convertible subordinated bonds to be issued by Kiwibank Limited (a related company of KCFL), which will help Kiwibank meet its regulatory capital requirements under the Reserve Bank’s Basel III framework. The notes will not be guaranteed by Kiwibank or New Zealand Post or any other person.
The joint lead managers for the offer are Deutsche Craigs and Forsyth Barr.
Kiwibank’s statement said it was expected that the offer of capital notes would be made next week.
No money is currently being sought and no applications for capital notes will be accepted or money received unless the subscriber has received an investor statement.
Indications of interest will not attract any obligation.
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