KCFL Considers Perpetual Capital Note Offer

Kiwi Capital Funding Limited Considers Perpetual Capital Note Offer

Kiwi Capital Funding Limited (KCFL) is considering making an offer of up to $150 million of Perpetual Capital Notes to the New Zealand public. Proceeds of the offer of Perpetual Capital Notes will be used by KCFL to invest in regulatory capital instruments to be issued by Kiwibank, which will help Kiwibank meet its regulatory capital requirements under the Reserve Bank’s Basel III framework. The Perpetual Capital Notes are perpetual, non-cumulative, unsecured, subordinated securities. The Perpetual Capital Notes will not be guaranteed by Kiwibank, the Government or any other person.

Interest in the offer may be registered by contacting one of the Joint Lead Managers to the offer (listed below) or your usual financial adviser.

• Deutsche Craigs 0800 226 263
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• Forsyth Barr 0800 367 227
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• Macquarie 0800 742 737
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It is expected that the offer of Perpetual Capital Notes will be made in mid April 2015. The initial interest rate and the margin will be announced on or before the Offer opens.

No money is currently being sought and no applications for Perpetual Capital Notes will be accepted or money received unless the subscriber has received an Investment Statement. Indications of interest will not involve an obligation or commitment of any kind.

ENDS

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