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Property For Industry Limited ( (NZ:PFI) ) has shared an update.
Property for Industry Limited has finalised the terms for a $200 million issue of 6.5-year senior secured fixed rate bonds, which will mature on 13 October 2032 and carry a coupon of 5.35% per annum. The bonds, to be listed on the NZX Debt Market under ticker PFI040, form part of the same class as PFI’s existing 2030 bonds, reinforcing the company’s use of listed debt as a core funding source.
Proceeds from the bond issue will be used to repay existing bank debt facilities and for general corporate purposes, further diversifying PFI’s capital structure and extending its debt maturity profile. The bonds are guaranteed by P.F.I. Property No. 1 Limited and secured by first-ranking mortgages over various properties, positioning the offer as a key step in maintaining conservative gearing and supporting ongoing investment in New Zealand industrial property assets.
More about Property For Industry Limited
Property for Industry Limited is an NZX-listed industrial property specialist with a portfolio of more than 90 properties valued at over $2 billion. The company focuses on strategically located industrial assets that support value and growth for tenants and investors, and has built a long-term track record of consistent returns since its 1994 listing through disciplined capital deployment and sector expertise.
Average Trading Volume: 304,375
Technical Sentiment Signal: Buy
Current Market Cap: N$1.11B
See more insights into PFI stock on TipRanks’ Stock Analysis page.