AUCKLAND: Precinct Properties New Zealand Limited has announced an offer of up to NZ$100 million (with the ability to accept up to an additional NZ$50 million) of secured, unsubordinated, fixed rate six year green bonds to institutional investors and New Zealand retail investors.
The offer opens Monday and will be made pursuant to the Financial Markets Conduct Act 2013 as an offer of debt securities of the same class as existing quoted debt securities.
The indicative margin range for the Green Bonds is 1.45% to 1.60% per annum over the underlying swap rate, subject to a minimum interest rate of 2.85% per annum.
The margin and interest rate is expected to be set on 21 May 2021 following a bookbuild process and will be announced by Precinct via NZX shortly thereafter.
The Green Bonds are expected to be quoted on the NZX Debt Market.
Precinct is New Zealand’s only listed city centre specialist investing predominately in premium and A-grade commercial office property. Listed on the NZX Main Board, PCT currently owns Auckland’s HSBC Tower, AMP Centre, Jarden House, 1 Queen Street, Mason Bros. Building, 12 Madden Street, 10 Madden Street and Commercial Bay; and Wellington’s AON Centre, NTT Tower, No. 1 and No. 3 The Terrace, Mayfair House and Bowen Campus.
Precinct owns Generator NZ, New Zealand’s premier flexible office space provider. Generator currently offers 13,600 square metres of space across four locations in Auckland.
https://www.precinct.co.nz/