The Warehouse Group is offering up to $100 million in bonds
to fund expansion and pay down debt.
The five-year, unsecured, unsubordinated fixed-rate bond
issue coincides with an announcement about the retailer's
strategic plan which includes five to eight new or
replacement, mostly North Island-based, stores in the next
five years.
It also aims to improve performance at its existing selling
spaces.
Expansion would increase the retailer's total footprint by up
to 26,000cu m.
Potential growth areas have been identified as apparel,
footwear, jewellery, homeware, sporting goods and everyday
needs, and it also has plans to enhance its online presence.
The bond offer opens on March 24 and closes on April 23, at
an issue price of $1 and a minimum application of $5000.
They will be listed on the NZDX.
Craigs Investment Partners has been appointed lead manager.
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