Goodman Fielder mulls raising $250m

Goodman Fielder, the dual-listed food ingredients manufacturer, is looking to raise as much as $250 million in a new NZX-listed bond to repay bank debt.

The company said it’s considering making an offer of up to $175 million of senior unsecured fixed rate bonds, with the ability to accept $75 million in oversubscriptions, and will decide on what interest rate it will pay before the offer is launched. Its facility with its lenders of A$700 million expires in November, and it’s already raised A$350 million from private investors in America.

The bond is expected to open late next month, and the offer will only be made in New Zealand.

Commonwealth Bank of Australia was appointed as arranger and joint lead manager, with ANZ, BNZ and Craigs Investment Partners also joint lead managers.

Goodman’s shares were unchanged at $1.81 on the NZX and A$1.34 on the ASX.

Businesswire.co.nz

Comments from our readers

Add your comment:

Your name:
Your email:	Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Anti-spam verification:

Type the text you see in the image into the field below. You are asked to do this in order to verify that this enquiry is not being performed by an automated process.

Related News:

Goodman Fielder returns to full-year profit; baking, NZ dairy units improve
Goodman Fielder 2013 earnings will fall on higher marketing spend, lower poultry sales
Goodman Fielder 1H profit more than doubles on asset sales; revenue falls
Goodman Fielder to sell Integro unit for A$170M to GrainCorp consortium
Goodman Fielder scotches media reports of approach from Wilmar
Goodman Fielder, selling assets and taking charges, narrows annual loss
Goodman Fielder's earnings to be at lower end of guidance
Wilmar targets 10% stake in Goodman Fielder, keen on buying non-core assets
Goodman Fielder 1H profit slumps 77%
Goodman Fielder refinances A$500 mln bank facilities