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Oceania Healthcare Launches NZ$100 Million Secured Bond Offer

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Oceania Healthcare (ASX:OCA, NZE:OCA) launched an offer of up to NZ$100 million in six-year fixed-rate secured, unsubordinated bonds, with the option to accept up to NZ$25 million in oversubscriptions, according to a Monday filing with the New Zealand bourse.

The bonds will bear interest at a rate equal to the six-year swap rate plus a margin expected to range between 1.85% and 1.95% per annum, subject to a minimum interest rate of 5.50%, per the filing.

The final margin and interest rate will be determined through a bookbuild process expected to conclude on Thursday, the filing said.

The bonds are expected to be quoted on the New Zealand Exchange debt market under the ticker "OCA030," with the offer scheduled to close on Thursday and issuance expected on July 1, the filing added.

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