Kiwi Income Property may offer $125m of bonds to fund spending, repay bank debt

Gavin Parker, Kiwi Income Property Trust Chief Financial Officer
Kiwi Income Property Trust 12-month price history (NZX.com)

Kiwi Income Property Trust [NZX: KIP], 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)


Got a question about this story? Leave it in Comments & Questions below.

This article is tagged with the following keywords. Find out more about MyNBR Tags

NZ Market Snapshot

Forex

Sym Price Change
USD 0.6585 -0.0079 -1.19%
AUD 0.9050 -0.0066 -0.72%
EUR 0.6034 -0.0030 -0.49%
GBP 0.4227 -0.0041 -0.96%
HKD 5.1046 -0.0602 -1.17%
JPY 81.8940 -0.6560 -0.79%

Commods

Commodity Price Change Time
Gold Index 1092.6 -3.600 2015-07-29T00:
Oil Brent 53.4 0.080 2015-07-29T00:
Oil Nymex 48.8 0.790 2015-07-29T00:
Silver Index 14.7 0.100 2015-07-29T00:

Indices

Symbol Open High Last %
NZX 50 5870.8 5899.0 5870.8 0.36%
NASDAQ 5100.3 5122.1 5111.7 0.20%
DAX 11305.5 11313.3 11211.9 0.40%
DJI 17743.2 17747.2 17751.4 -0.03%
FTSE 6631.0 6697.4 6631.0 0.57%
HKSE 24822.4 24872.7 24619.5 -0.49%
NI225 20450.6 20583.6 20302.9 1.08%