GP Industries Launches $11M Perpetual Bonds

GP Industries Limited (SG:G20) has released an update.

GP Industries Limited is set to issue perpetual subordinated bonds totaling up to $11 million, offering an initial annual distribution rate of 9.5%, which will reset after the first year to 8.5% or lower depending on the prevailing rates. These bonds can be issued in denominations starting at $500,000, with interest payable semi-annually, and the company reserves the right to defer interest payments under certain conditions. Investors in the financial markets may find this new bond issuance an enticing opportunity, with its high initial yield and subsequent rate adjustments tied to market conditions.

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