GNZ Bond Issuer Limited Analysis

Overview

GNZ Bond Issuer Limited is a wholly owned subsidiary of Goodman New Zealand Limited. It is a special purpose financing company for Goodman New Zealand Limited, Goodman Property Services (NZ) Limited and their respective subsidiaries.

Performance

The following information was extracted from GNZ Bond Issuer Limited's half year, released on 20 November 2025:

GNZ Bond Issuer Limited, a wholly owned subsidiary of Goodman Property Trust, has provided the NZX with its unaudited interim financial statements for the six months to 30 September 2025.

GNZ Bond Issuer Limited received $13.5 million of interest income and incurred $13.5 million of interest expense during the period.

The increase on the previous period reflects the impact of the $150 million wholesale green bond issued on 8 October 2024, partly offset by the GMB040 maturity in May 2024.

S&P Global Ratings has rated all Goodman+Bonds and Green Bonds at BBB+.