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


Kiwi Income seven-year bonds oversubscribed

Kiwi Income seven-year bonds oversubscribed

By Paul McBeth

Jul. 10 (BusinessDesk) - Kiwi Income Property Trust, the country's second-biggest listed property investor by market value, has had its seven-year bond offer oversubscribed.

The full $100 million offer and $25 million in oversubscriptions was allocated in a bookbuild, the trust's manager said in a statement. The bonds will pay annual interest of 6.15 percent. The offer opens on July 11 and closes on Aug. 1.

Last month, Kiwi Income's chief financial officer Gavin Parker told BusinessDesk the proceeds will go towards general corporate purposes and repaying existing bank debt.

Units in the trust gained 0.4 percent to $1.185.


© Scoop Media

Business Headlines | Sci-Tech Headlines


Land & Water Forum: Fourth Report On Water Management

The Land and Water Forum (LWF) today published its fourth report, outlining 60 new consensus recommendations for how New Zealand should improve its management of fresh water and calling on the Government to urgently adopt all of its recommendations from earlier reports. More>>



Welcome Home: Record High Migration Stokes 41-Year High Population Growth

New Zealand annual net migration hit a new high in October as more people arrived from than departed for Australia for the first time in more than 20 years. More>>


Citizens' Advice Bureau: Report Shows Desperate Housing Situation Throughout NZ

CAB's in-depth analysis of over 2000 client enquiries about emergency accommodation shows vulnerable families, pregnant women and children living in cars and garages, even after seeking assistance from the Ministry of Social Development and Housing New Zealand. More>>


Speaking For The Bees: Greens Call For Neonicotinoid Pesticide Ban

The National Government should ban the use of controversial pesticides called neonicotinoids after evidence has revealed that even at low doses they cause harm to bee populations, the Green Party said today. More>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news