Given a compact connected Lie group $G$ with dual Coxeter number $\check h$ and a level $κ<-2\check h$, we introduce a probability measure $ν_κ$ on the space of holomorphic $\mathfrak g_{\mathbb C}$-valued $(1,0)$-forms in $\mathbb D$, in relation to the Kähler geometry of the loop group of $G$ and the action of a pair of Kac--Moody algebras at respective levels $κ$ and $-2\check h-κ>0$. We prove that $ν_κ$ is characterised by a covariance property making rigorous sense of the formal path integral ``$\mathrm dν_κ(γ)=e^{-\checkκ\mathscr{S}(γ)}Dγ$", where $Dγ$ is the non-existent Haar measure on the loop group and $\mathscr S$ is a Kähler potential for the right-invariant Kac--Moody metric. Infinitesimally, the covariance formula prescribes the Shapovalov forms of the Kac--Moody representations.