This article is from the Australian Property Journal archive
GOODMAN Group has successfully priced its inaugural $US325 million debt issue in the United States 144A/Reg S bond market.
The senior, unsecured notes have an effective fixed interest coupon of 6.375% for a term of 10 years. Proceeds of the issue will be swapped to Euro and Pound Sterling and used to repay existing borrowings. Accordingly, this transaction does not impact on the group’s gearing levels.
“We are delighted with the success of our first US bond issue, which is another significant step in the successful and ongoing implementation of our stated capital management initiatives,” Goodman’s CEO Nick Vrondas said. “Importantly, this debt issue extends our maturity profile, as well as diversifying our sources of capital away from our traditional lenders.”
Australian Property Journal
