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EastPack Notes - Secondary market



Minimum investment



With a minimum interest rate of 8.5% p.a and an annual interest rate reset based on prevailing bond rates, EastPack Notes are particularly suited to inflationary times like these.

Based on the recent 5-year government bond rate, the interest rate for Year 1 has been fixed at 8.9% p.a.

The EastPack Notes Offer was recently completed and successfully raised $28.8 million of capital.

This subsequent secondary market offer is to sell down the remaining underwritten EastPack Notes and is open to eligible Wholesale Investors, with a minimum investment of $20,000.

EastPack Notes are an investment in the continued growth of EastPack, one of New Zealand’s largest kiwifruit post-harvest operators.

The Notes offer a minimum interest rate of 8.5% p.a., OR the five-year government bond rate + 4.5%, whichever is highest. This means if the five-year government bond rate goes up, so will the interest rate. This interest rate return is set annually.

Applications for Secondary Market Notes is now open.

Summary of this offer

  • Minimum interest rate 8.5% p.a., set annually
  • First year interest rate set at 8.9% p.a.
  • 5 year investment term**
  • Interest paid quarterly
  • Unsecured, subordinated, fixed rate debt securities
  • Minimum investment $20,000

Introducing EastPack

EastPack are an essential part of the kiwifruit industry, and pick, pack and process one out of every four kiwifruit grown in New Zealand. They have seen significant growth over recent years, packing over 47m trays of fruit last year and holding over $350m in assets at end December 2021.

Impressive returns growing in challenging times

In the months since EastPack Notes' successful launch, it has been no secret that the Kiwifruit industry has faced challenges. Picking for the current season finished in June and after a sustained period of extreme weather events, a much smaller crop than expected has been produced, impacting both growers and post-harvest profitability.

However, it is a credit to EastPack's adaptable business model that they can reduce overheads by scaling their staffing costs and tightening capital expenditure while still having sufficient packing and cool-store capacity to meet increased forecast demand in 2024.

EastPack and Zespri predict rapid growth in the industry over the next few years, and the post-harvest sector needs to expand significantly to ensure growers can pack and store their fruit. Investing in EastPack Notes provides an opportunity to support New Zealand’s largest horticultural sector, a significant provider of employment, local industry and income across the country.

More importantly for Notes holders, EastPack has paid out over $1m of interest to investors, who have benefitted from an 8.9% return on their investment so far.

The horticultural industry may face volatile times, but EastPack Notes continue to perform to expectations.

*EastPack Limited is the issuer of EastPack Notes. Please ensure you have received, read and understood a copy of the PDS before applying for this offer.

**With the option for EastPack to redeem after three years.

This offer is only open to investors who fall within the exclusions applicable to offers made to “wholesale investors” as set out in Schedule 1, clauses 3 (2)(a)-(c) and 3 (3)(a)-(b)(ii) of the Financial Markets Conducts Act 2013 (FMCA). You can obtain further information on FMCA requirements, and whether you come within the exclusions and their requirements at

This summary does not constitute, and is not a substitute for, financial, legal, tax, accounting or other professional advice. It does not take into account the particular needs or circumstances of any prospective investor. Before deciding whether to invest, you should obtain independent financial advice that takes account of your personal financial goals and circumstances. MyFarm Investments and/or EastPack cannot provide you with any such independent financial advice. Any investment decision made by any person is based solely on their own evaluation of their individual personal and financial situation.

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EastPack announces $30 million Notes issue to meet growth in kiwifruit demand

EastPack announces $30 million Notes issue to meet growth in kiwifruit demand

EastPack, the largest post-harvest operator in the New Zealand kiwifruit industry and one of the country’s largest cooperatives, today announced that it intends to raise $30 million via an issue of five-year subordinated Notes to New Zealand investors. EastPack will have the ability to take oversubscriptions of up to $10 million.

Lead underwriter and specialist primary sector investment company MyFarm Investments has underwritten $15 million of the capital raising. MyFarm is also the lead broker for the issue; the arranger is M C Capital Limited.
Media release


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