Kiwi Income seven-year bonds oversubscribed

Kiwi Income Property Trust, the country's second-biggest listed property investor by market value, has had its seven-year bond offer oversubscribed.

The full $100 million offer and $25 million in oversubscriptions was allocated in a bookbuild, the trust's manager said in a statement. The bonds will pay annual interest of 6.15 percent. The offer opens on July 11 and closes on Aug. 1.

Last month, Kiwi Income's chief financial officer Gavin Parker told BusinessDesk the proceeds will go towards general corporate purposes and repaying existing bank debt.

Units in the trust gained 0.4 percent to $1.185.

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:

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