Nuplex notes in demand

The company is seeking to raise $60 million through an issue of capital notes with up to $15 million extra from a shareholder pool and a public pool.

Investors have snapped up the extra $15 million of notes and as a result the company reports that both the shareholder pool and the public pool are now fully subscribed and no further applications can be accepted.

The bulk of the offer is being allocate on a firm basis to members of the NZSE

Capital notes in the NZ market have been in demand for some time now as investors seek higher income streams. The promise of a minimum interest rate of 9.3% for the Nuplex notes has obviously proved appealing.

Funds raised from the issue will be used to pay for the acquisition of Australian company Asia Pacific Specialty Chemicals.

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