On 7 September 2015 PMP Limited (ASX Code:PMP) announced that it is seeking to raise $35-40m of new funding through the issue of a corporate bond (the sole arranger being FIIG Securities). The transaction is an unrated senior unsecured bond with funds being used to help paydown the existing bond (click here to see more detail on the existing bond). Note that the size of the existing deal is $50m.
According to the announcement the new bond is offered at a fixed rate of 6.43% for four years (maturity being October 2019). This represents a margin of approximately 4.05% over the equivalent swap rate.
