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  1. #161
    Hunting for more dog food Beagle's Avatar
    Join Date
    Jul 2010
    Location
    Auckland
    Posts
    17,213

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    https://www.nzx.com/announcements/361633 A little surprising they didn't take $25m in oversubscriptions too.
    2.2% a very low rate though so maybe the demand was for $125m at that rate and if they'd taken oversubs the overall rate in the bookbuild would have been higher.

    At their last annual meeting I suggested another bond issue because their weighted average cost of borrowing was just on 4%.
    So on the $125m issue at 2.2% there's good cost savings of about $125m x 1.8% per annum = $2,250,000. Not to shabby at all in terms of a cost savings exercise and definitely earnings accretive. Nice to lock that in for 7 years too.
    No butts, hold no mutts, (unless they're the furry variety).

  2. #162
    Senior Member
    Join Date
    Apr 2020
    Location
    hamilton
    Posts
    664

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    With talk of MMT coming around the world and NZ still back in the old inflation model low interest rates look here to stay as MR B has indicated. NZ government Bonds sold into markets at low rates also indicating low rates are here for an extended period of time.

    Property has exploded beyond political control.

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