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.