Indicative Margin & Minimum Interest Rate for Green Bonds

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Indicative Terms Sheet dated 4 April 2022

This indicative terms sheet (Terms Sheet) sets out the key terms of the offer (Offer) by GMT Bond Issuer Limited (Issuer) of up to NZ$100 million
(with the ability to accept oversubscriptions of up to NZ$50 million at its discretion) of 5 year (maturing on 14 April 2027) fixed rate, senior secured
green bonds (Green Bonds).
The product disclosure statement dated 24 March 2022 (PDS), which contains full details of the Offer, is available at
www.goodmangreenbonds.co.nz or by contacting a Joint Lead Manager or your usual financial advice provider. The PDS must be given to investors
before they decide to acquire any Green Bonds.
Capitalised terms used but not defined in this Terms Sheet have the meanings given to them in the PDS.
Issuer GMT Bond Issuer Limited, a wholly owned subsidiary of Goodman Property Trust (GMT).
Description Fixed rate, senior secured green bonds.
Offer Amount Up to NZ$100 million (with the ability to accept oversubscriptions of up to NZ$50 million at the Issuer’s
discretion).
Term and Maturity Date 5 years, maturing on 14 April 2027
Credit Ratings Issue Credit Rating GMT Credit Rating
S&P Global Ratings Australia Pty
Limited (S&P)
BBB+ BBB (stable outlook)
The Green Bonds have a credit rating of BBB+ from S&P. S&P has also issued a BBB (stable outlook) long-
term credit rating for GMT. A rating is not a recommendation by any rating organisation to buy, sell or hold
Green Bonds. The above ratings are current as at the date of this Terms Sheet and may be subject to
suspension, revision or withdrawal at any time by S&P.
The Sustainable Finance
Framework and the
Green Bond Principles
GMT has developed and adopted the Sustainable Finance Framework to ensure that, as at the date of the
PDS, the Green Bonds comply with the Green Bond Principles. There is no legal obligation on any member
of the GMT Group to comply with the Sustainable Finance Framework or satisfy any sustainable finance
market principles and guidelines as set out in the Sustainable Finance Framework (including the Green Bond
Principles) on an ongoing basis.

If:
• any member of the GMT Group (including GMT and the Issuer) fails to allocate the proceeds of the Green
Bonds as described in the PDS;
• any member of the GMT Group fails to comply with the Sustainable Finance Framework or satisfy any
sustainable finance market standards as set out in the Sustainable Finance Framework (including the
Green Bond Principles);
• the Green Bonds cease to satisfy the Green Bond Principles; or
• any member of the GMT Group fails to notify Holders that the Green Bonds cease to comply with the
Sustainable Finance Framework or the Green Bond Principles,
then:
• no Event of Default will occur in relation to the Green Bonds;
• neither you nor the Issuer have any right for the Green Bonds to be repaid early; and
• the Green Bonds may cease to be labelled as 'green'.
Use of Proceeds The Issuer will on-lend all of the proceeds of the Offer to GMT.

Once on-lent to GMT the proceeds of the Offer are intended to be allocated to finance or refinance, wholly or
in part, Eligible Assets in accordance with the Sustainable Finance Framework.

As at the date of the PDS, once on-lent to GMT, GMT intends to:
• use the proceeds of the Offer to refinance existing bank debt; and
• allocate an amount equal to the proceeds of the Offer:

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• first, to the Eligible Assets set out in in the table below, which are currently being developed and
have been verified as targeting a New Zealand Green Building Council’s 5 Green Star Design and
/ or Built rating. These Eligible Assets are, as at the date of the PDS, the only Eligible Assets
under the Sustainable Finance Framework;
then
• any proceeds that are not allocated to the Eligible Assets set out in the table below will be allocated
to Eligible Assets within 24 months of the Issue Date.

Property name Property address
NZ Blood and Organ Service at Highbrook 80 Highbrook Drive, Highbrook
Stanley Black & Decker at Highbrook 20 El Kobar Drive, Highbrook
Riverside Warehouses at Highbrook 28 Business Parade North, Highbrook
NZ Post at Roma Road 60 Roma Road, Mount Roskill
Mainfreight at Favona Road 60 Favona Road, Favona

Refer to the PDS for more information on Eligible Assets, the Sustainable Finance Framework and the Green
Bond Principles.
Opening Date Monday, 4 April 2022
Closing Date Thursday, 7 April 2022 at 11am (NZT)
Rate Set Date Thursday, 7 April 2022
Issue Date Thursday, 14 April 2022
Maturity Date Wednesday, 14 April 2027
Interest Rate A fixed rate of interest will be payable on the Green Bonds until the Maturity Date.

The Interest Rate will be determined by the Issuer (in consultation with the Joint Lead Managers) following
the Bookbuild held on the Rate Set Date (7 April 2022). The Interest Rate will be announced via NZX on or
about the Rate Set Date. The Interest Rate will not change over the term of the Green Bonds.

The Interest Rate will be equal to the sum of the Base Rate and the Margin but in any case will be no less
than 4.50% per annum.
Base Rate The semi-annual mid-market rate for an interest rate swap of a term matching the period from the Issue Date
to the Maturity Date as calculated by the Arranger in consultation with the Issuer, according to market
convention, with reference to Bloomberg page ICNZ4 (or any successor page) on the Rate Set Date (rounded
to 2 decimal places if necessary, with 0.005 being rounded up).
Margin The indicative Margin range is 1.15% to 1.25% per annum.

The actual Margin for the Green Bonds (which may be above or below the announced indicative Margin) is
the rate (expressed as a percentage rate per annum) determined by the Issuer (in consultation with the Joint
Lead Managers) through the Bookbuild held on the Rate Set Date.
Issue Price Each Green Bond is issued at par (NZ$1.00 per Green Bond).
Interest Payments Semi-annually in arrear in equal payments.
Interest Payment Dates
14 April and 14 October each year up to and including the Maturity Date. If any Interest Payment Date falls
on a day that is not a Business Day, the payment will be made on the next Business Day.
The first Interest Payment Date will be 14 October 2022.

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Guarantee The Issuer's obligations under the Green Bonds are guaranteed by:
• GMT under the Green Bond Guarantee. This guarantee is given in favour of the Supervisor and is limited
to the assets held by Covenant Trustee Services Limited as trustee of GMT. GMT's obligations under
this guarantee are in turn guaranteed by each GMT Group Company; and
• each GMT Group Company under the GMT Group Guarantee.

Refer to the PDS for more information on these guarantees.
Security Under the GMT Group Guarantee, each GMT Group Company has given a security interest over all of its
assets together with first ranking Mortgage(s) given over its freehold and leasehold land. The security
interests and Mortgages do not extend to certain excluded property.

The security interests are given in favour of the Security Trustee for the benefit of all of the Beneficiaries
(including Holders) and can only be enforced in accordance with the Security Trust Deed.

Refer to the PDS for more information about the security interests.
Further Indebtedness and Other
Covenants
The Issuer, GMT and other members of the GMT Group can create further liabilities (including by issuing new
secured bonds) without the consent of Holders. However, there are covenants in the Trust Deed and other
documents that have the effect of restricting the GMT Group's ability to create further liabilities that rank
equally with or in priority to the Green Bonds.

Under the Trust Deed, the Issuer agrees:
• to ensure that finance debt of the GMT Group (which includes the hedged value of any foreign currency
debt) does not exceed 50% of the Security Pool Value; and
• to not create, or permit to subsist, any other security interests over any of its assets or the land that
comprise the Security Pool other than certain permitted security interests.

Refer to the PDS for more information.
No Early Repayment Neither you nor the Issuer has any right to require the Green Bonds to be repaid before the Maturity Date
unless an Event of Default occurs.
Record Date

Payments of interest on the Green Bonds will be made to the persons who are the Holders as at 5pm (New
Zealand time) on the 10th calendar day before the relevant Interest Payment Date (or such other date as
required by NZX).

Payments of any other amount will be made to the persons who are the Holders as at 5pm (New Zealand
time) on the date as is determined by the Issuer and notified to NZX (or such other date as required by NZX).

If such date would fall on a day which is not a Business Day, then payments will be made to the persons who
are the Holders as at the immediately preceding Business Day.
Business Days
A day (other than a Saturday or Sunday) on which registered banks are generally open for business in
Wellington and Auckland.
Minimum Application Amount
and Minimum Holding
Minimum application of NZ$5,000 with multiples of NZ$1,000 thereafter.
Transfers
You may only transfer your Green Bonds in multiples of NZ$1,000 in aggregate Principal Amount and after
any transfer you and the transferee must each hold Green Bonds with an aggregate Principal Amount of at
least NZ$5,000 (or no Green Bonds).
ISIN NZGMBDT009C3
NZX Debt Market Quotation
The Issuer intends to quote the Green Bonds on the NZX Debt Market. NZX ticker code GMB060 has been
reserved for the Green Bonds.
NZX takes no responsibility for the content of this Terms Sheet. NZX is a licensed market operator and the
NZX Debt Market is a licensed market under the FMC Act.
Expected Date of Initial Quotation
and Trading on NZX Debt Market
19 April 2022

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Who May Apply for Green Bonds
There is no public pool for the Green Bonds. All of the Green Bonds (including any oversubscriptions) will be
reserved for subscription by clients of the Joint Lead Managers, Primary Market Participants and other
approved financial intermediaries invited to participate in the Bookbuild. This means that you can only apply
for Green Bonds through a Primary Market Participant or approved financial intermediary who has obtained
an allocation of Green Bonds.

You can find a Primary Market Participant by visiting www.nzx.com/investing/find-a-participant.
Supervisor Public Trust.
Security Trustee NZGT (GMT) Security Trustee Limited.
Registrar and Paying Agent Computershare Investor Services Limited.
Arranger and Green Bond Co-
ordinator
Westpac Banking Corporation (ABN 33 007 457 14) (acting through its New Zealand branch) (Westpac).
Joint Lead Managers Craigs Investment Partners Limited, Forsyth Barr Limited, Jarden Securities Limited and Westpac.
Governing Law New Zealand.
Singapore Securities and Futures
Act Product Classification
Solely for the purposes of its obligations pursuant to sections 309B(1)(a) and 309B(1)(c) of the Securities and
Futures Act 2001 (Singapore), as modified or amended from time to time (SFA), the Issuer has determined,
and hereby notifies all relevant persons (as defined in Section 309A of the SFA) that the Green Bonds are
"prescribed capital markets products" (as defined in the Securities and Futures (Capital Markets Products)
Regulations 2018 (Singapore)).
Selling Restrictions

The Issuer has not taken and will not take any action which would permit a public offering of Green Bonds, or
possession or distribution of any offering material in respect of the Green Bonds, in any country or jurisdiction
where action for that purpose is required (other than New Zealand).
Part A - Initial selling restrictions
If sold in New Zealand, the Green Bonds may only be offered in New Zealand in conformity with all applicable
laws and regulations in New Zealand. In respect of the Offer, no Green Bonds may be offered in any other
country or jurisdiction except in conformity with all applicable laws and regulations of that country or jurisdiction
and the applicable selling restrictions set out in this section headed "Part A - Initial selling restrictions". The
PDS, this Terms Sheet and any offering material or any documents in connection with the Green Bonds may
not be published, delivered or distributed in or from any country or jurisdiction except under circumstances
which will result in compliance with all applicable laws and regulations in that country or jurisdiction and the
applicable selling restrictions set out in this section headed "Part A - Initial selling restrictions". For the
avoidance of doubt, the selling restrictions set out in this section headed "Part A - Initial selling restrictions"
apply only in respect of the Offer.
United States of America
The Green Bonds have not been and will not be registered under the Securities Act of 1933, as amended
(Securities Act) and may not be offered or sold within the United States or to, or for the account or benefit of,
U.S. persons (as defined in Regulation S under the Securities Act (Regulation S)). No person may engage
in any directed selling efforts (as defined in Regulation S) in relation to the Green Bonds, and persons must
comply with the offering restrictions in Regulation S.
The Green Bonds will not be offered or sold within the United States or to, or for the account or benefit of,
U.S. persons (i) as part of their distribution at any time, or (ii) otherwise until 40 days after the completion of
the distribution of all Green Bonds, as determined and certified by the Joint Lead Managers. Any Green Bonds
sold to any distributor, dealer or person receiving a selling concession, fee or other remuneration during the
distribution compliance period require a confirmation or notice to the purchaser at or prior to the confirmation
of the sale to substantially the following effect:
"The Green Bonds covered hereby have not been registered under the United States Securities Act of 1933,
as amended (the Securities Act) or with any securities regulatory authority of any state or other jurisdiction
of the United States and may not be offered or sold within the United States, or to or for the account or benefit
of, U.S. persons (i) as part of their distribution at any time or (ii) otherwise until 40 days after the later of the
commencement of the offering of the Green Bonds and the closing date. Terms used above have the meaning
given to them by Regulation S."
Member States of the European Economic Area
In relation to each Member State of the European Economic Area, no Green Bonds have been offered and
no Green Bonds will be offered that are the subject of the offering contemplated by this Terms Sheet in relation
thereto to the public in that Member State except that an offer of Green Bonds to the public in the Member

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State may be made:
(a) to any legal entity which is a qualified investor as defined in the EU Prospectus Regulation;
(b) to fewer than 150 natural or legal persons (other than qualified investors as defined in the EU
Prospectus Regulation) subject to obtaining the prior consent of the relevant Joint Lead Manager
and/or Joint Lead Managers nominated by the Issuer for any such offer; or
(c) in any other circumstances falling within Article 1(4) of the EU Prospectus Regulation, provided that
no such offer of the Green Bonds shall require the Issuer or any Joint Lead Managers to publish a
prospectus pursuant to Article 3 of the EU Prospectus Regulation or supplement a prospectus pursuant
to Article 23 of the EU Prospectus Regulation.
For the purposes of this provision, the expression an "offer of the Green Bonds to the public" in relation to
any Green Bonds in any Member State means the communication in any form and by any means of sufficient
information on the terms of the offer and the Green Bonds to be offered so as to enable an investor to decide
to purchase or subscribe for the Green Bonds and the expression "EU Prospectus Regulation" means
Regulation (EU) 2017/1129.
United Kingdom
No Green Bonds have been offered and no Green Bonds will be offered that are the subject of the offering
contemplated by this Terms Sheet in relation thereto to the public in the United Kingdom except that an offer
of Green Bonds to the public in the United Kingdom may be made:
(a) to any legal entity which is a qualified investor as defined in Article 2 of the UK Prospectus Regulation;
(b) to fewer than 150 natural or legal persons (other than qualified investors as defined in Article 2 of the
UK Prospectus Regulation) in the United Kingdom subject to obtaining the prior consent of the relevant
Joint Lead Manager and/or Joint Lead Managers nominated by the Issuer for any such offer; or
(c) in any other circumstances falling within section 86 of the Financial Services and Markets Act 2000
(FSMA),
provided that no such offer of the Green Bonds shall require the Issuer or any Joint Lead Manager to publish
a prospectus pursuant to section 85 of the FSMA or supplement a prospectus pursuant to Article 23 of the UK
Prospectus Regulation.
For the purposes of this provision, the expression an "offer of the Green Bonds to the public" in relation to
any Green Bonds means the communication in any form and by any means of sufficient information on the
terms of the offer and the Green Bonds to be offered so as to enable an investor to decide to purchase or
subscribe for the Green Bonds and the expression "UK Prospectus Regulation" means Regulation (EU)
2017/1129 as it forms part of domestic law by virtue of the European Union (Withdrawal) Act 2018.
Other regulatory restrictions
No communication, invitation or inducement to engage in investment activity (within the meaning of section
21 of the FSMA) has been or may be made or caused to be made or will be made in connection with the issue
or sale of the Green Bonds in circumstances in which section 21(1) of the FSMA applies to the Issuer.
All applicable provisions of the FSMA with respect to anything done in relation to the Green Bonds in, from or
otherwise involving the United Kingdom must be complied with.
Japan
The Green Bonds have not been and will not be registered in Japan pursuant to Article 4, Paragraph 1 of the
Financial Instruments and Exchange Act of Japan (Act No. 25 of 1948, as amended, the FIEA) in reliance
upon the exemption from the registration requirements since the offering constitutes the small number private
placement as provided for in "ha" of Article 2, Paragraph 3, Item 2 of the FIEA. A Japanese Person who
transfers the Green Bonds shall not transfer or resell the Green Bonds in Japan or to a Japanese person
except where the transferor transfers or resells all the Green Bonds en bloc to one transferee. For the
purposes of this paragraph, "Japanese Person" shall mean any person resident in Japan, including any
corporation or other entity organised under the laws of Japan.
Singapore
Each Joint Lead Manager has acknowledged that the PDS and this Terms Sheet have not been registered as
a prospectus with the Monetary Authority of Singapore. Accordingly, each Joint Lead Manager has
represented, warranted and agreed that it has not offered or sold any Green Bonds or caused the Green
Bonds to be made the subject of an invitation for subscription or purchase and will not offer or sell any Green
Bonds or cause the Green Bonds to be made the subject of an invitation for subscription or purchase, and
has not circulated or distributed, nor will it circulate or distribute, the PDS, this Terms Sheet or any other
document or material in connection with the offer or sale, or invitation for subscription or purchase, of the
Green Bonds, whether directly or indirectly, to any person in Singapore other than:
(a) to an institutional investor (as defined in Section 4A of the Securities and Futures Act 2001 (Singapore),
as modified or amended from time to time (SFA) pursuant to Section 274 of the SFA);
(b) to a relevant person (as defined in Section 275(2) of the SFA) pursuant to Section 275(1) of the SFA,
or any person pursuant to Section 275(1A) of the SFA, and in accordance with the conditions specified
in Section 275 of the SFA; or

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(c) otherwise pursuant to, and in accordance with the conditions of, any other applicable provision of the
SFA.
Where the Green Bonds are subscribed or purchased under Section 275 of the SFA by a relevant person
which is:
(a) a corporation (which is not an accredited investor (as defined in Section 4A of the SFA)) the sole
business of which is to hold investments and the entire share capital of which is owned by one or more
individuals, each of whom is an accredited investor; or
(b) a trust (where the trustee is not an accredited investor) whose sole purpose is to hold investments and
each beneficiary of the trust is an individual who is an accredited investor,
securities or securities based derivatives contracts (each term as defined in Section 2(1) of the SFA) of that
corporation or the beneficiaries' rights and interest (howsoever described) in that trust shall not be transferred
within six months after that corporation or that trust has acquired the Green Bonds pursuant to an offer made
under Section 275 of the SFA except:
(1) to an institutional investor or to a relevant person, or to any person arising from an offer referred to in
Section 275(1A) or Section 276(4)(i)(B) of the SFA;
(2) where no consideration is or will be given for the transfer;
(3) where the transfer is by operation of law;
(4) as specified in Section 276(7) of the SFA; or
(5) as specified in Regulation 37A of the Securities and Futures (Offers of Investments) (Securities and
Securities-based Derivatives Contracts) Regulations 2018.
Hong Kong
No Green Bonds have been offered or sold or will be or may be offered or sold in Hong Kong, by means of
any document other than (a) to "professional investors" as defined in the Securities and Futures Ordinance
(Cap. 571) of Hong Kong (the SFO) and any rules made under the SFO; or (b) in other circumstances which
do not result in the document being a "prospectus" as defined in the Companies (Winding Up and
Miscellaneous Provisions) Ordinance (Cap. 32) of Hong Kong (the C(WUMP)O) or which do not constitute an
offer to the public within the meaning of the C(WUMP)O.
No advertisement, invitation or document relating to the Green Bonds may be issued or in the possession of
any person or will be issued or be in the possession of any person in each case for the purpose of issue,
whether in Hong Kong or elsewhere, which is directed at, or the contents of which are likely to be accessed
or read by, the public of Hong Kong (except if permitted to do so under the securities laws of Hong Kong)
other than with respect to the Green Bonds which are or are intended to be disposed of only to persons outside
Hong Kong or only to "professional investors" as defined in the SFO and any rules made under the SFO.
Australia
No prospectus or other disclosure document (as defined in the Corporations Act 2001 of Australia
(Corporations Act)) in relation to the Green Bonds has been, or will be, lodged with, or registered by, the
Australian Securities and Investments Commission (ASIC) or any other regulatory authority in Australia. No
person may:
(a) make or invite (directly or indirectly) an offer of the Green Bonds for issue, sale or purchase in, to or
from Australia (including an offer or invitation which is received by a person in Australia); and
(b) distribute or publish, the PDS, this Terms Sheet, any information memorandum, prospectus or any
other offering material or advertisement relating to the Green Bonds in Australia,
unless:
(i) the aggregate consideration payable by each offeree or invitee is at least A$500,000 (or its equivalent
in an alternative currency and, in either case, disregarding moneys lent by the offeror or its associates)
or the offer or invitation otherwise does not require disclosure to investors in accordance with Part 6D.2
or Part 7.9 of the Corporations Act;
(ii) the offer or invitation is not made to a person who is a "retail client" within the meaning of section 761G
of the Corporations Act;
(iii) such action complies with all applicable laws, regulations and directives; and
(iv) such action does not require any document to be lodged with ASIC or any other regulatory authority in
Australia.
Each of the PDS and this Terms Sheet is not, and under no circumstances is to be construed as, an
advertisement or public offering of any Green Bonds in Australia.
Part B - General selling restrictions
The Green Bonds may only be offered for sale or sold in compliance with all applicable laws and regulations
in any country or jurisdiction in which they are offered, sold or delivered. The PDS, this Terms Sheet and any
offering material or any documents in connection with the Green Bonds may only be published, delivered or
distributed in or from any country or jurisdiction under circumstances which will result in compliance with all
applicable laws and regulations in that country or jurisdiction.
By subscribing for Green Bonds, you agree to indemnify the Issuer, the Supervisor, the Arranger and the Joint

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Lead Managers, for any loss suffered by any one or more of them by reason of any breach of the selling
restrictions set out in this section headed "Part B - General selling restrictions".
The timetable is indicative only and subject to change. The Issuer has the right, in its absolute discretion and without notice, to vary the timetable
(including by opening or closing the Offer early, accepting late applications, and extending the Closing Date).
If the Issuer changes any of the Opening Date and/or the Closing Date, the changes will be announced via NZX as soon as reasonably practicable.
If the Closing Date is extended, the Issue Date, the expected date of initial quotation and trading of the Green Bonds on the NZX Debt Market, the
Interest Payment Dates and the Maturity Date may also be extended. Any such changes will not affect the validity of any applications received.
The Issuer reserves the right to cancel the Offer and the issue of the Green Bonds. If this occurs any application monies received will be refunded
(without interest) as soon as practicable, and in any event within 5 Business Days of the Issuer announcing that the Offer has been cancelled.

ADDRESS DETAILS

Issuer

GMT Bond Issuer Limited
Level 2
18 Viaduct Harbour Avenue
Auckland

Toll free: 0800 000 656
Telephone: +64 9 375 6060

Arranger, Green Bond Co-ordinator and Joint Lead Manager

Westpac Banking Corporation
(ABN 33 007 457 141) (acting through its New Zealand branch)
Westpac on Takutai Square
Level 8, 16 Takutai Square
Auckland 1010

Phone: 0800 772 142

Registrar

Computershare Investor Services Limited
Level 2, 159 Hurstmere Road
Takapuna
Auckland 0622
Private Bag 92119
Auckland 1142

Phone: +64 9 488 8777
Joint Lead Managers

Craigs Investment Partners Limited
Level 32, Vero Centre
48 Shortland Street
Auckland 1010

Phone: 0800 226 263

Forsyth Barr Limited
Level 23, Shortland & Fort
88 Shortland Street
Auckland 1010

Phone: 0800 367 227

Jarden Securities Limited
Level 32, PwC Tower
15 Customs Street West
Auckland 1010

Phone: 0800 005 678

---

Level 2, 18 Viaduct Harbour Avenue, Auckland | PO Box 90940, Victoria Street West, Auckland 1142
Tel +64 9 375 6060 | www.goodman.com/nz





NZX release+
Indicative Margin & Minimum Interest Rate for Green Bonds
Date
4 April 2022
Release
Immediate

Further to the announcement by GMT Bond Issuer Limited ("Issuer") (a wholly owned
subsidiary of Goodman Property Trust ("GMT")) of an offer ("Offer") of up to NZ$100 million
(with the ability to accept oversubscriptions of up to NZ$50 million at its discretion), of 5 year
(maturing on 14 April 2027) fixed rate, senior secured green bonds ("Green Bonds"), the Issuer
today announced indicative pricing for the offer.
The interest rate for the Green Bonds will be no less than the minimum interest rate of 4.50% per
annum and the indicative margin range above the base rate for the Green Bonds is 1.15% to 1.25%
per annum.
The margin and interest rate for the Green Bonds will be set following a bookbuild process, which is
expected to be completed on 7 April 2022 and announced via NZX. The Offer opens today and is
expected to close on 7 April 2022, with the Green Bonds expected to be issued on 14 April 2022.
The Green Bonds have a credit rating of BBB+ from S&P Global Ratings Australia Pty Limited
("S&P"). GMT has a long-term credit rating from S&P of BBB (stable outlook).
There is no public pool for the Offer, with all of the Green Bonds being reserved for clients of the Joint
Lead Managers, Primary Market Participants and other approved financial intermediaries.
Full details of the Offer are contained in the product disclosure statement dated 24 March 2022
("PDS"). The PDS is available at www.goodmangreenbonds.co.nz or by contacting a Joint Lead
Manager or your usual financial advice provider, and must be given to investors before they decide to
acquire any Green Bonds.
A copy of the indicative terms sheet (updated for the indicative margin and minimum interest rate set
out above) has been provided to NZX with this announcement and that indicative terms sheet is also
available through www.goodmangreenbonds.co.nz.

Arranger, Green Bond Co-ordinator and Joint Lead Manager



0800 772 142

Joint Lead Managers





0800 226 263

0800 367 227

0800 005 678

Level 2, 18 Viaduct Harbour Avenue, Auckland | PO Box 90940, Victoria Street West, Auckland 1142
Tel +64 9 375 6060 | www.goodman.com/nz



For further information please contact:
Andy Eakin
Chief Financial Officer
Goodman (NZ) Limited
(021) 305 316

About Goodman Property Trust:
GMT is an externally managed unit trust, listed on the NZX. It has a market capitalisation of around $3.4 billion, ranking it in the
top 20 of all listed investment vehicles. GMT is New Zealand’s leading warehouse and logistics space provider. It has a
substantial property portfolio, with a value of $4.3 billion at 30 September 2021. GMT also holds an investment grade credit
rating of BBB from S&P Global Ratings.
The Manager of GMT is Goodman (NZ) Limited, a subsidiary of the ASX listed Goodman Group. Goodman Group is a A$68.2
billion specialist global manager of warehouse and logistics real estate.