Investore Property has announced indicative pricing for its offer of up to $62.5 million of subordinated convertible notes.
The indicative issue margin range for the notes is 3% to 3.5% per annum above the 4-year swap rate, with a minimum interest rate of 6.25% per annum.
The issue margin and interest rate for the notes will be determined through a bookbuild process, which is expected to be completed on Sept 19, 2025.
The offer, which opened today, consists of a general offer and a shareholder priority offer.
The notes are expected to be issued on Sept 26, 2025.
Eligible shareholders in New Zealand can apply for notes in the shareholder priority offer.
The offer is being made in accordance with the Financial Markets Conduct Act 2013, and the notes are expected to be quoted on the NZX debt market.
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