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Goodman Property unit closes NZ$75M bond offering

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Goodman Property unit closes NZ$75M bond offering

Goodman Property Trust subsidiary GMT Bond Issuer Ltd. closed its offering of up to NZ$75 million in 5.5-year fixed rate senior secured bonds.

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

Following an oversubscription of NZ$25 million, the company will issue on March 1 Goodman+Bonds worth NZ$100 million. The bonds carry an annual interest rate of 4.00%, reflecting a margin of 1.20% per annum.

Set to mature Sept. 1, 2023, the bonds are expected to start trading on the New Zealand Exchange's debt market March 2.

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

As of Feb. 22, US$1 was equivalent to NZ$1.36.