Investore Property Ltd has set the interest rate for its new 6-year bonds at 4.4%, the minimum stated in the indicative terms sheet.
The company has issued $100 million of the senior secured fixed rate bonds, including the full $25 million of oversubscriptions. There was no public pool.
The indicative issue margin range above the 6-year swap rate was 1.5-1.7%/year, and the margin was set at the bottom of that range, 1.5%.
Investore owns a 40-property portfolio of supermarkets & other bulk retail properties. It’s just sold 2 other properties.
Attribution: Company release.