Warehouse full

Philip Bayley
New Zealand's The Warehouse Group announced last week that it had completed the bookbuild on its NZ$100 million retail bond issue, with the offering being more than two times over subscribed. As a result the issue will be sold entirely to institutional investors and there will be no public pool.

The minimum interest rate on the five-year bonds has been set at 7.30 per cent, with the final rate being set on April 23 at the greater of this minimum rate or 2.15 per cent over the five years swap rate. The bonds will be listed on the NZDX and the offer will close on or before April 23.