Summerset announces indicative rate for $100M bond offer

Sun, 09 Sep 2018

By Sophie Boot Sept. 10 (BusinessDesk) - Summerset Group will sell up to $100 million of seven-year fixed-rate bonds as it cuts its reliance on bank debt. The retirement village operator and developer announced its planned offer last week. At the time chair Rob Campbell said he was pleased the firm was considering another retail bond issue after raising $100 million in June 2017, with an oversubscription of 33.3 percent. The interest rate for those bonds - which will mature in July 2023 - was set at 4.78 percent per annum. They last trade...

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