Kiwi Income Property Trust [NZX: KIP], 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.
This article is tagged with the following keywords. Find out more about MyNBR Tags
- MARKET CLOSE: NZ shares fall as global mood sours further, Air NZ, Sky TV and Xero drop
- Shelly Bay land deal fails to clear vote hurdle
- Milk price rise has economists scratching their heads
- NZ tech stocks brace for a rocky few months
- Spark's Revera wins IRD's data centre contract for business transformation