Sharechat Logo

Kiwi Income Property may offer $125M of bonds to fund spending, repay bank debt

Wednesday 25th June 2014

Text too small?

Kiwi Income Property Trust, the country’s second-biggest listed property investor, may offer as much as $125 million of bonds to fund general corporate spending and the payment of existing bank debt facilities.

The Auckland-based company may sell $100 million of seven-year bonds with the ability to accept up to $25 million of oversubscriptions next month, it said in a statement. It is seeking preliminary indications of interest.

"It's intended to be used for general corporate purposes including the repayment of existing bank debt facilities," chief financial officer Gavin Parker told BusinessDesk.

The bonds will only be offered in New Zealand.

 

 

The units last traded at $1.16, and have gained 7.4 percent this year.

 

 

 

 

BusinessDesk.co.nz



  General Finance Advertising    

Comments from our readers

No comments yet

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.

Related News:

New Bond Issue Market Looking Very Upbeat
General Capital to Broadcast Adjourned Annual Meeting
Kathmandu announces FY20 Annual Results
EROAD opens NZ$8 million Share Purchase Plan
Refinery simplification plan update
Heartland announces FY20 full year results
Geo Limited releases its FY20 Annual Report
Michael Hill International Limited announces 2020 annual report
Tower supports climate risk reporting
Tourism Holdings Limited Updated FY20 guidance

IRG See IRG research reports