Kiwi Capital Funding confirmed the whole $100 million of unsecured subordinated capital notes on offer had been reserved for clients of participants in the bookbuild process.
The margin is 2.15% per annum and the interest rate will be 6.61% per annum for the first five years.
The offer opens tomorrow and closes June 3.
Investors will be paid early-bird interest on the Capital Notes at 6.61% per annum from the time their application money is banked.
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