INVESTORS have shown their faith in Villa World, with the bookbuild for last week’s $50 million bond offer closing on Friday earlier than scheduled.
The margin determined under the bookbuild is 4.75%.
“The recently announced capital management initiatives will provide the Company with increased financial capacity to continue to grow inventory through value accretive acquisitions and joint venture opportunities, resulting in a ‘step change’ in the business, whilst maintaining prudent gearing levels,” managing director and chief executive officer, Craig Treasure said.
The residential developer last week completed a $20 million equity raising at $2.25 per share, with the funds going towards its recent $33 million acquisition of a 42-hectare site in Melbourne’s outer south-eastern suburb of Clyde.
Villa World has also undertaken a $10 million share purchase plan.
Australian Property Journal
