Goodman Property Trust may sell $100M of bonds to diversify funding

Goodman Property Trust, the country's biggest listed property investor by market value, is considering offering as much as $100 million of retail bonds to diversify its funding.

Goodman Property may offer $75 million of bonds with oversubscriptions of $25 million, the property trust's manager, Goodman (NZ), said in a statement. The bonds would mature Dec. 4, 2020.

Full details will be released later this month and the offer will open early December, the company said.

Bank of New Zealand and Deutsche Craigs have been appointed joint lead managers and Forsyth Barr is co-manager of the proposed offer.

Units in the property trust last traded at $1.03, and have gained 2 percent so far this year.

BusinessDesk.co.nz

Comments from our readers

No comments yet

Add your comment:

Your name:
Your email:	Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Anti-spam verification:

Type the text you see in the image into the field below. You are asked to do this in order to verify that this enquiry is not being performed by an automated process.

Related News:

Fletcher Building Announces Director Appointment
Meridian issues new demand response exercise notice to NZAS
CRP - Chatham Closes Private Placement of Shares
General Finance - Olympic Term Deposit Promotion featuring a Special Bonus of 0.1%
July 22nd Morning Report
VCT - Operational performance for the year ended 30 June 2024
Challenge to banks the way to go
Bigger returns or lower risk?
NPH - Director Appointment
July 19th Morning Report