Kiwi Property's green bonds sell like hot cakes

Fri, 09 Jul 2021

Kiwi Property Group said the interest rate it will pay on its green bonds has been set at the minimum 2.85% and it will sell $150 million of them after the sale was heavily oversubscribed.The company had planned to sell at least $100m and had allowed for oversubscriptions of up to $50m.The coupon on the bonds, which will be listed on the NZX, was set after a bookbuilding, or auction, process among institutional investors.Kiwi lowered the indicative range on Wednesday to 1.25% to 1.35% over the swap rate from the original 1.35% to 1.5% after get...

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