Kina Securities Limited (KSL), cross-listed on the PNGX and ASX (KSL), has announced the launch of its inaugural bond issue in Papua New Guinea. Kina Securities provides a range of financial services, including banking, investment, and insurance products. The company aims to raise PGK 235 million through the issuance of unsecured subordinated debt securities, with the intention to list them on the PNGX Debt Market.
The bond issue is designed to qualify as Tier 2 Capital under the Prudential Standards on Capital Adequacy set by the Bank of Papua New Guinea (BPNG). According to the company, the proceeds from the capital raising will be allocated for general corporate purposes. The offering is exclusively available to Eligible Investors within Papua New Guinea, upon invitation by Kina, and as defined under the Capital Market Act 2015 and the Securities Commission (Wholesale Corporate Bonds excluded issues and offers) Order 2022.
The Securities Commission of Papua New Guinea has already granted approval for the bond, confirming its compliance with the terms of the Order. The bonds will have a term of 10 years, maturing on the 10th anniversary of their approval for trading on the PNGX Debt Market. The coupon rate is fixed at 7.55% per annum, payable semi-annually. The face value of each bond is PGK 50,000, with a minimum purchase amount of PGK 250,000.
KSL retains the option for early redemption after the fifth anniversary of the issue date, subject to BPNG approval. Key dates for the offer include the closure of subscriptions on 29 April 2026, and the commencement of trading on the PNGX between 5 May 2026 and 8 May 2026. This announcement was authorised for release by Kina Securities Limited’s Board of Directors.
