Rates Round Up

Goodman Property Trust to raise $150 mln through five-year bond
Goodman Property Trust will meet its target of $150 million through a five-year bond issue paying a yield of 7.7%. The trust's manager, Goodman (NZ) said there will not be a public pool due to strong demand from institutional investors and NZX participants on its $100 million offer and $50 million in oversubscriptions.

The bonds have been given an investment-grade BBB+ rating by Standard & Poor's.

Transpower dishes details on bond offer
Grid operator Transpower has announced a few more details on its proposed senior retail bond offer.

The State-owned company hopes to raise money so it can pay down debt and lengthen the maturity of its debt facilities through a five-year tranche, and subject to demand a seven-year tranche.