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Tower just gets minimum for bond offer
Tuesday 24th of March 2009
Tower raised $81.7 million of the April 2014 bonds, less than the maximum $100 million it was willing to issue including over-subscriptions. Tower will use the funds to repay bank debt.
The sale contrasts with New Zealand Post Group Finance’s offering, which investors snapped up without the need for a public pool, raising $200 million. Post set the rate at 7.50% for its bonds, which have...
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