Kiwi Property raises $125m, paying 4.00% over seven years

Kiwi Property Group chief executive Chris Gudgeon
KPGadd to my Stocks
KPG Kiwi Property Group Limited
$1.350
0.000 0.000%
Volume: 920,414

Kiwi Property [NZX: KPG] has raised a total of $125 million in a bond issue, paying a 4% coupon or interest rate to investors over seven years.

The issue was oversubscribed, with the company fully issuing the $50 million in bonds set aside to handle oversubscription.

The bonds will be issued on September 7, 2016 and mature on September 7, 2023.

Deutsche Craigs and Westpac were joint lead managers, with Bank of New Zealand a co-manager.

Shares in Kiwi Property were unchanged at $1.55 and have risen 14.8% since the start of the year.

(BusinessDesk)

Click the hamburger symbol top right of our homepage to access the Rich List 2016 and other sections.


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

Comments & Questions

Commenter icon key: Subscriber Verified

Post New comment or question

Plain text

  • No HTML tags allowed.
  • Web page addresses and e-mail addresses turn into links automatically.
  • Lines and paragraphs break automatically.

NZ Market Snapshot

Forex

Sym Price Change
USD 0.7264 -0.0027 -0.37%
AUD 0.9147 -0.0016 -0.17%
EUR 0.5945 0.0000 0.00%
GBP 0.5278 -0.0011 -0.21%
HKD 5.6813 -0.0229 -0.40%
JPY 80.4660 -0.2290 -0.28%

Commods

Commodity Price Change Time
Gold Index 1340.6 4.480 2018-01-15T00:
Oil Brent 69.8 0.530 2018-01-12T00:
Oil Nymex 64.3 0.440 2018-01-12T00:
Silver Index 17.1 0.170 2018-01-12T00:

Indices

Symbol Open High Last %
NASDAQ 7208.2 7265.3 7211.8 0.68%
DJI 25638.4 25810.4 25574.7 0.89%