Warehouse seeks to raise $100m

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The Warehouse says it will seek up to $100 million through a public debt offer.

The discount retailer said today it was likely to open a bond offer in late March.

The bonds will have a five year life cycle. Proceeds will be used for general corporate purposes which might include redeeming existing debt, an acquisition or funding a capital return to shareholders.

Craigs Investment Partners has been appointed advisor for the offer.

The Warehouse, which didn't provide any detail of the likely interest rate offered to investors' in the bonds, said further information will be provided when it reveals its interim results on March 12.

- © Fairfax NZ News