FKP Property to buy back A$12.3 million of 8% convertible notes

By Marisa Wong

Madison, Wis., Dec. 18 - FKP Property Group said it plans to repurchase and cancel A$12.3 million of its A$125 million 8% guaranteed convertible notes.

The notes will be bought back at a price of A$11,708,250.

The repurchase will be funded by recent non-core asset sales.

Following the transaction, A$112.7 million of the bonds will remain outstanding.

Settlement is expected to be in February.

FKP is a real estate development company based in Brisbane, Australia.

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