New Zealand: Summerset to sell third retail bond issue

Aotea Village, Wellington

Summerset Group, New Zealand’s second-largest listed retirement village operator, intends to sell up to NZ$100m (US$67.3m) seven-year retail bonds. It will be the company’s third such issue. The indicative issue margin range for the bonds is 2% to 2.2% a year. The issue margin and interest rate will be set following a book-build process on…

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