Summerset Group Holdings Ltd lifted its bond issue to $125 million on Friday by doubling the level of oversubscriptions from $25 million to $50 million.
The margin has been set at 1.65%/year and the interest rate at 4.20%/year.
The minimum interest rate indicated before the bookbuild was 4.15%/year, and the indicative margin range for the bonds was 1.65-1.75%/year.
The 7-year fixed-rate bonds will go to New Zealand institutional & retail investors who participated in the bookbuild process. All the bonds have been allocated to intermediaries for distribution to their clients. There’s no public pool.
The bonds will be issued on Monday 24 September.
Earlier story:
4 September 218: Summerset to seek $100 million in bond issue
Attribution: Company release.