IPL Sets Interest Rate on Retail Bond Offer | NZ Market Update

Investore Property Limited (NZX:IPL) made an announcement that subsequent to successful bookbuild for its offer of 7-year, senior secured fixed rate bonds, it has closed an offer of up to $125 million of Bonds that shall mature on August 31, 2027. The interest rate has been fixed at 2.40% per annum and the bonds shall be issued on August 31, 2020. They are expected to be quoted on the NZX Debt Market on 01 September 2020, under the ticker code IPL020.

Infrastructure Minister Shane Jones has confirmed that the NZ Government shall support significant housing and community development in Taup?. The Government shall invest NZD 8 million through loan to a locally owned company, Penny Homes. The funding shall ensure that the work can continue during the pandemic downturn. Penny Homes has already started the work on the Eastern Urban Lands development in Taup?, which includes a mix of retirement, residential, community, and commercial facilities. The investment is a part of the NZD 3 billion funds allotted for infrastructure projects under the COVID-19 Response and Recovery Fund.

There are six new cases of Covid-19 in New Zealand, four linked to the Auckland cluster. There are now 92 cases linked to the Auckland community cluster, but the source remains a mystery. There are now 111 active cases of Covid-19 in New Zealand. Earlier on Saturday, NZ Post chief operating officer Mark Stewart said 70 NZ Post workers are having to self-isolate as a precautionary measure, after two of their colleagues tested positive for Covid-19.

#NZX #IPL #Retail #Kalkine

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