Kiwi Property raises $125mn, paying 4.00% over 7 years

Kiwi Property has raised a total of $125 million in a bond issue, paying a 4 percent 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 Sep. 7 2016 and mature on Sep 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 percent since the start of the year.

BusinessDesk.co.nz

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