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GMT Bond Issuer Limited Sets Rate on Bond Offer - Goodman + Bonds

Friday, 23 February 2018

Following the successful bookbuild process for its offer of 5.5 year (maturing 1 September 2023) fixed rate senior secured bonds ("Goodman+Bonds"), GMT Bond Issuer Limited (NZX Code: GMB) (a wholly owned subsidiary of Goodman Property Trust ("GMT" or "Trust")) 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 4.00% p.a., which is the minimum interest rate set out in the Terms Sheet for the Goodman+Bonds dated 19 February 2018. The margin has been set at 1.20% p.a.. The Goodman+Bonds will be issued on 1 March 2018 and will mature on 1 September 2023. The Goodman+Bonds are expected to be quoted on the NZX Debt Market on 2 March 2018.

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

  • Deutsche Craigs Limited 0800 226 263
  • First NZ Capital Securities Limited 0800 005 678 
  • Westpac Banking Corporation (ABN 33 007 457 141) (acting through its New Zealand branch) 0800 942 822

John Dakin
Chief Executive Officer
Goodman (NZ) Limited
(09) 375 6063
(021) 321 541

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