Property For Industry seeks up to $100 million through new bond offer

Fri, 27 Oct 2017

By Rebecca Howard Oct. 27 (BusinessDesk) - Property For Industry wants to raise $100 million through a new bond offer to institutional and New Zealand investors in order to repay existing bank debt. The Auckland-based company is offering up to $75 million of senior secured fixed rate bonds with oversubscriptions of up to $25 million, it said. The bonds are expected to have a term to maturity of seven years and it expects to provide full details of the offer next week. The company didn't offer an indicative rate, with the seven-year swap...

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