Goodman Property Trust subsidiary GMT Bond Issuer Ltd. launched an offer for the issue of up to NZ$75 million 5.5-year fixed-rate senior secured bonds.

The bonds, which will mature Sept. 1, 2023, will have the same rights, privileges, limitations and conditions as GMT Bond's NZ$100 million senior secured bonds quoted on the NZX Debt Market.

The indicative issue margin range is 1.20% per year to 1.30% per year, subject to a minimum interest rate of 4.00% per year.

The offer is slated to close Feb. 23 following a bookbuild process and the bonds are expected to be issued March 1.

Deutsche Craigs Ltd., First NZ Capital Securities Ltd. and Westpac Banking Corp. are the joint lead managers for the offer.

Goodman Property Trust is a New Zealand-based industrial and business space provider.

As of Feb. 16, US$1 was equivalent to NZ$1.35.