KIPT bonds oversubscribed
Kiwi Income Property Trust’s offer of seven-year bonds has been oversubscribed.
Friday, July 11th 2014, 5:02PM
Its manager, Kiwi Property Management Ltd, said the bookbuild for its fixed rate senior secured bonds was well received, and the whole offer amount of $100 million, plus $25 million in oversubscriptions, has been reserved for clients of the participants.
The interest rate has been set at 6.15%.
The offer opens today and closes August 1.
Investors will be paid interest semi-annually from the time their application money is banked. The bonds are only being offered in New Zealand.
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