trending Market Intelligence /marketintelligence/en/news-insights/trending/q0VRr3k2--pOchUkCdpcog2 content esgSubNav
In This List

Investore Property sets interest rate floor for NZ$75M bond issuance

Blog

Using ESG Analysis to Support a Sustainable Future

Video

S&P Capital IQ Pro | Powered by Expert Insights

Blog

Q&A: Streamlining Analytics for TCFD Reporting

Blog

Evergrande and the wider impact: a sentiment analytics based perspective


Investore Property sets interest rate floor for NZ$75M bond issuance

Investore Property Ltd. established the interest rate for its up to NZ$75 million issuance of senior secured fixed-rate six-year bonds at a minimum of 4.40%.

The actual interest rate for the issuance will be confirmed after a bookbuilding process, which is anticipated to close March 20, according to a release.

The New Zealand-headquartered commercial property owner also set a yearly indicative issue margin range of between 1.50% to 1.70% over the six-year swap rate for the bonds, which will mature April 18, 2024.

The notes will be quoted on the New Zealand stock exchange, with Westpac Banking Corp.'s New Zealand branch serving as the offering's arranger. Westpac is also acting as a joint lead manager alongside ANZ Bank New Zealand Ltd., Deutsche Craigs Ltd. and Forsyth Barr Ltd.

The private bond offering will run from March 21 to April 12, solely for customers of the joint lead managers, participants on the New Zealand bourse and approved financial intermediaries.

As of March 9, US$1 was equivalent to NZ$1.37.