Property For Industry Launches Fixed-Rate Bond Offering

MT Newswires Live
Mar 30

Property For Industry (NZE:PFI) launched an offering of up to NZ$125 million of 6.5-year senior secured fixed rate bonds for investors in New Zealand and Australia, according to a Monday filing with the New Zealand bourse.

The company said it may accept oversubscriptions of up to an additional NZ$75 million.

The interest rate on the debt will equal the sum of the base rate plus the issue margin, per the filing. The indicative issue margin range for the bonds, expected to be issued on April 13, is 1.30% to 1.40% per year.

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