I think he's pulling your leg but I might frighten you and call his bluff :D
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Vince and anyone posting please use the emoticons as words , often can't convey the sentiment , lightness, seriousness, tone and misunderstandings result often.What can just be an opinion can be taken as an insult etc etc. OK:scared::D;):t_up:?
I drove past Summerset by the Sea in Katikati today, looked quite inviting and neat. Works have started on Stage 4, perhaps more villas?
Good to see it well looked after and expanding.
Bonds?
https://nzx.com/companies/SUM/announcements/301909
http://summerset.co.nz/bondoffer/index.html
Best Wishes
Paper Tiger
In the PDS it has a key risk section and changes in the Property Market is listed as the first risk. I thought SUM said the propoerty market has a limited impact on their underlying NPAT?
Bond issue makes very good sense to me.
Gives them another funding avenue other than banks.
Six years is a good time frame.