Property for Industry to diversify funding base with $100M bond offer

Sun, 16 Sep 2018

By Rebecca Howard Sept. 17 (BusinessDesk) - Property for Industry wants to diversify its funding base with the sale of up to $100 million of bonds. The $75 million seven-year bond offer opens today and will take up to $25 million in oversubscriptions. The senior secured fixed-rate notes have an indicative issue margin range of 1.6 percent to 1.7 percent per annum, subject to a minimum interest rate of 4.15 percent. The seven-year swap rate was recently at 2.56 percent, implying the notes will pay annual interest of 4.16 percent to 4.26 pe...

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