Summerset to offer up to $100M of 7-year bonds to diversify future funding

Sun, 02 Sep 2018

By Rebecca Howard Sept. 3 (BusinessDesk) - Summerset Group plans to sell up to $100 million of seven-year, fixed-rate bonds as the retirement village operator and developer cuts it reliance on bank debt. The bond offer for $75 million with the ability to accept oversubscriptions of $25 million is expected to open the week of Sept. 10 and Summerset said it would provide more details at the time. The notes are expected to be listed on the NZX debt market. Summerset chair Rob Campbell said he is pleased the firm is considering another r...

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