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Warehouse seeks $100 million in tradeable bond offer

Friday 12th March 2010

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The Warehouse Group has confirmed it is seeking up to $100 million in five year unsecured, unsubordinated fixed rate bonds, to be listed on the NZDX.

Interest rates on the bonds will be announced on March 23 after a bookbuild with institutions on March 22, lead managed by Craigs Investment partners, with listing expected on April 29. 

The issue will diversify funding sources and extend the group’s debt maturity profile out to 2015, with proceeds applied to reducing existing bank debt and financing new and replacement Warehouse stores. 

The company announced a 17% increase in net first-half profit this morning, reflecting year earlier costs to close stores while operating earnings weakened. 



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