Kiwi Property raises $125mn, paying 4.00% over 7 years

Kiwi Property raises $125mn, paying 4.00% over 7 years
Edwin Mitson
By Edwin Mitson Aug. 31 (BusinessDesk) - Kiwi Property has raised a total of $125 million in a bond issue, paying a 4 percent coupon or interest rate to investors over seven years. The issue was oversubscribed, with the company fully issuing the $50 million in bonds set aside to handle oversubscription. The bonds will be issued on Sep. 7 2016 and mature on Sep 7. 2023.  Deutsche Craigs and Westpac were joint lead managers, with Bank of New Zealand a co-manager.  Shares in Kiwi Property were unchanged at $1.55 and have risen 14.8...