The margin for Precinct Properties NZ Ltd’s new $100 million of bonds has been set at 1.50%/year over the 7-year swap rate, and the interest rate has been set at 4.42%/year.
Precinct offered $75 million of secured unsubordinated fixed-rate bonds plus $25 million in oversubscriptions, which were all taken up.
All the bonds have been allocated to intermediaries for distribution to their clients. No public pool is available. The bonds will be issued on 27 November.
13 November 2017: Precinct launches bond issue
Attribution: Company release.