Precinct seeks up to $150m in six-year bond offer

Mon, 17 May 2021

Precinct Properties New Zealand wants to raise as much as $150 million selling six-year green bonds to help pay for its $1.8 billion pipeline of energy-efficient buildings.The listed property investor is offering $100m of secured, unsubordinated notes, with oversubscriptions of up to another $50m in its first green bond issue since setting up a sustainable debt framework last year.The bonds will pay annual interest of at least 2.85%, with the indicative margin set at 1.45%-to-1.6% above the six-year swap rate.The proceeds will go towards financ...

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