Thursday 24th April 2003
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The issuer, Goodman Finance, is a wholly-owned subsidiary of Burns Philp.
The proceeds of the issue of the capital notes are intended to form part of the long term financing of the group and will replace part of the finance raised by the group to complete the acquisition of Goodman Fielder Limited.
The notes will be unsecured, subordinated, fixed rate, debt obligations of the issuer. They will be issues in two tranches - five year and eight year capital notes.
The interest rates will before the launch date.
Overall the group is looking to raise $175 million with up to $75 million in oversubscriptions.
First NZ Capital Securities has agreed to underwrite the issue up to $175 million.
The offer is expected to open in early May.
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