The distribution will be payable semi-annually in arrears in equal instalments.
GP Industries Limited has entered into subscription agreements with investors for the issuing of fixed rate resetting perpetual subordinated bonds of up to US$11 million ($14.1 million).
The bonds, which will be issued in the denomination of US$0.5 million and integral multiples of US$100,000 in excess thereof, will be perpetual and will confer a right to receive distribution payments at a rate of 9.5% per annum with the first distribution rate reset falling on Oct 15, 2025. Subsequent rests are expected to occur on the second reset date and every one year thereafter.
