Goodman Property Trust Receives Financier Approvals for New Fund

MT Newswires Live
Aug 07

Goodman Property Trust (NZE:GMT) received all approvals required from its existing funders for the establishment of the new open-ended property fund called the Highbrook Fund, according to a Thursday New Zealand bourse filing.

The company got final approval on Thursday from all its bank and bond financiers for setting up the new Highbrook Fund, per the filing. This includes approval related to GMT Bond Issuer Limited's wholesale bonds and its NZ$150 million fixed-rate senior secured green bonds, which are listed on the NZX Debt Market under the ticker code GMB060.

For the GMB060 bonds, Public Trust gave waivers, which were granted because the supervisor believes the waivers will not negatively impact the bondholders.

The remaining conditions for investment in the Highbrook Fund are the receipt of certain regulatory approvals and finalisation of new financing arrangements, the filing said.

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