Synlait Milk Limited (ASX: SM1) has announced the completion of a successful bookbuild for its offer of a five-year unsecured subordinated fixed rate bonds. The issue of NZD 180 million bonds was allocated which involved an oversubscription of NZD 30 million.
- The interest rate has been set at 3.83 per cent per annum, reflecting a margin of 2.5 per cent above five-year swap rate.
- The securities would be quoted in NZX debt markets.
Chairman of the company – Graeme Milne stated that the capital would provide diversification in sources of capital, and it would be utilised to reduce a part of bank facilities.
There is no investor left unperturbed with the ongoing trade conflicts between US-China and the devastating bushfire in Australia.
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