Australian and New Zealand food manufacturer Goodman Fielder has announced it will pay a margin of 280 basis points over swap for its $250 million retail bond issue.

The fixed interest rate, to be announced on Nov. 18, will be the higher of 7.25 percent and the aggregate of 2.80 percent plus the benchmark rate, it said.

Strong demand during the bookbuild means the borrower will allocate to investors the maximum amount it initially planned to raise.

The issue includes NZ$75 million in oversubscriptions.