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GMT Bond Issuer Limited Sets Rate on Bond Offer Goodman Bonds

Friday, 26 May 2017

Following the successful bookbuild process for its offer of seven year fixed rate senior secured bonds ("Goodman+Bonds"), GMT Bond Issuer Limited (a wholly owned subsidiary of Goodman Property Trust ("GMT")) today announced the offer has closed and $100 million of Goodman+Bonds will be issued under the offer.

The interest rate for the Goodman+Bonds has been set at 4.54% p.a. This reflects a margin of 1.55% p.a. over the underlying seven year swap rate. The Goodman+Bonds will be issued on 31 May 2017 and will mature on 31 May 2024. The Goodman+Bonds are expected to be quoted on the NZX Debt Market on 1 June 2017.

The Goodman+Bonds are expected to have an investment grade issue credit rating of BBB+ from Standard & Poor's. GMT’s current corporate credit rating is BBB.

The full details of the offer are contained in the updated terms sheet attached.

For further information please contact:

Joint Lead Managers

  BNZ 0800 284 017

Westpac Banking Corporation (acting through its New Zealand branch) 0800 942 822 

Co-Managers

  Deutsche Craigs Limited 0800 226 263

  First NZ Capital Securities Limited 0800 005 678

  Forsyth Barr Limited 0800 367 227 

John Dakin
Chief Executive Officer
Goodman (NZ) Limited
(09) 375 6063
(09) 375 6063

Andy Eakin
Chief Financial Officer
Goodman (NZ) Limited
(09) 375 6077
(021) 305 316