New Zealand Post Group Finance subordinated notes

17 November 2014

Interest Rate Set

Following the successful conclusion of the remarketing process for its Subordinated Notes, New Zealand Post Group Finance Limited advises that the Interest Rate payable in relation to the Subordinated Notes for the period from 15 November 2014 until the next Reset Date on 15 November 2019 was today set at 6.35% per annum, being the higher of:

  • 6.35%, and
  • The five year swap rate on 17 November 2014 plus the new Margin of 2.00%.

Trading in the Notes (on the adjusted terms) is expected to resume on 18 November 2014.  There will remain $200 million of Notes on issue.