The Goodman Property Trust launched a $100 million bond issue on Monday ($75 million + $25 million in oversubscriptions).
The 5.5-year fixed-rate senior secured bonds (Goodman+Bonds) will mature on 1 September 2023.
Goodman expects they will have an investment grade issue credit rating of BBB+ from Standard & Poor’s. The trust’s current corporate credit rating is BBB.
The indicative issue margin range is 1.20-1.30%/year, subject to a minimum interest rate of 4.00%/year. The issue margin & interest rate will be set following a bookbuild process on Friday. The offer will close on Friday and the bonds will be issued on Thursday 1 March.
Attribution: Trust release.