S&P rates Kiwi Property green bond BBB+

S&P said it assigned its BBB+ long-term issue rating to Kiwi Property Group Ltd.'s planned sale of up to NZ$100 million of six-and-a-half-year fixed-rate green bonds. Kiwi can sell an additional NZ$25 million at its discretion if the offering is oversubscribed. Several wholly owned subsidiaries of the company will guarantee the senior secured green bonds.

Kiwi will use the proceeds to refinance bank debt.

The outlook is stable.

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