PFI closes $150m bond offer

7th March 2025 By Staff Reporter | news@propertyticker.co.nz | @propertyticker

Property for Industry has closed its offer of $150m in 5.5 year senior secured fixed rate bonds.

The industrial specialist said on Thursday that the interest rate for the bonds has been set at 5.43% per annum, which reflected an issue margin of 1.65% per annum over the underlying base rate.

The bonds will be issued on 13 March 2025 and are expected to be quoted on the NZX Debt Market on 14 March. They will mature on 13 September 2030.

Westpac was the arranger, as well as joint lead manager alongside Commonwealth Bank of Australia, Craigs Investment Partners, and Forsyth Barr.