Wednesday 25th June 2014 |
Text too small? |
Kiwi Income Property Trust, the country’s second-biggest listed property investor, may offer as much as $125 million of bonds to fund general corporate spending and the payment of existing bank debt facilities.
The Auckland-based company may sell $100 million of seven-year bonds with the ability to accept up to $25 million of oversubscriptions next month, it said in a statement. It is seeking preliminary indications of interest.
"It's intended to be used for general corporate purposes including the repayment of existing bank debt facilities," chief financial officer Gavin Parker told BusinessDesk.
The bonds will only be offered in New Zealand.
The units last traded at $1.16, and have gained 7.4 percent this year.
BusinessDesk.co.nz
No comments yet
Second St John withdrawal of labour takes effect tomorrow with further strikes likely
Sanford Appoints Independent Director
CRP ADVISES CLOSURE OF SHARE OFFER TO EXISTING INVESTOR
Devon Funds Morning Note - 14 August 2024
OCR 5.25% - Monetary restraint tempered as inflation converges on target
Consumers still need due diligence as new deposit takers emerge.
Woolworths strike: staff asked to dress up in Disney costumes for a week on their own dollar
Turners Invests in Quashed Online Insurance Platform
PGW Reports on Challenging Year
Arvida Announces Executive Team Changes