Kiwi Property Group Ltd has set the interest rate for its $125 million issue of 7-year fixed-rate senior secured bonds at 4.33%/year.
The offer closed yesterday and trading in the bonds will open on Wednesday 20 December.
S&P Global Ratings has assigned an issue credit rating of BBB+ to the bonds.
Majestic sale settled
Kiwi Property said on Monday it had settled the $123.2 million sale of the Majestic Centre in Wellington to Investec Property Ltd, as the responsible entity for the Investec Australia Property Fund. Kiwi Property will continue to manage the building for Investec.
15 November 2017: Kiwi Property sells Majestic to Investec fund
Attribution: Company releases.