Reuters logo
Australian property Goodman completes $1 bln bond exchange offer
June 6, 2017 / 11:11 PM / 6 months ago

Australian property Goodman completes $1 bln bond exchange offer

SYDNEY, June 7 (Reuters) - Australian property Goodman Group said on Wednesday it completed a $1 billion bond exchange offer with strong support from bondholders.

As part of the transaction, Goodman said it reduced its gearing target to a range between zero and 25 percent, from 25 percent to 35 percent previously.

As a result, its credit rating had been upgraded to BBB plus by S&P Global Ratings and Baa1 by Moody‘s, Goodman said in a statement to the Australian stock exchange. (Reporting by Cecile Lefort; Editing by Richard Pullin)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below