7 Sep 2010

Goodman trust raises $45m from bond issue

6:46 pm on 7 September 2010

Goodman Property Trust has widened its sources of funding by raising $45 million from the issue of bonds to institutional investors.

The listed property trust raised $150 million through a bond sale at the end of last year. The proceeds will be sued to repay debt.

The seven-year bonds, rated triple-B by Standard & Poor's rating agency, will pay interest six-monthly at 7.58% per annum.

Meanwhile, Trustpower is considering raising up to $100 million from the public through a bond issue. The power company says the money will be used to repay debt.