Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Kiwi Income Property may offer $125M of bonds

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

By Tina Morrison

June 25 (BusinessDesk) - 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)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Crown Accounts: Slightly Softer Growth Expected In PREFU

A slightly softer growth forecast is the main feature of largely unchanged Pre-election Fiscal Update compared to the Budget forecasts three months ago, Finance Minister Steven Joyce says. More>>

ALSO:

Water: Farming Leaders Pledge To Help Make Rivers Swimmable

In a first for the country, farming leaders have pledged to work together to help make New Zealand’s rivers swimmable for future generations. More>>

ALSO:

Unintended Consequences: Liquor Change For Grocery Stores On Tobacco Tax

Changes in the law made to enable grocery stores to continue holding liquor licences to sell alcohol despite increases in tobacco taxes will take effect on 15 September 2017. More>>

Back Again: Government Approves TPP11 Mandate

Trade Minister Todd McClay says New Zealand will be pushing for the minimal number of changes possible to the original TPP agreement, something that the remaining TPP11 countries have agreed on. More>>

ALSO:

By May 2018: Wider, Earlier Microbead Ban

The sale and manufacture of wash-off products containing plastic microbeads will be banned in New Zealand earlier than previously expected, Associate Environment Minister Scott Simpson announced today. More>>

ALSO: