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  1. #161
    Hunting for more dog food Beagle's Avatar
    Join Date
    Jul 2010

    Default 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


    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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