University of Canterbury filling NZ$50 million 'philanthropic bond' issue fast

University of Canterbury has announced its 'philanthropic bond' issue to raise up to NZ$50 million has been filling fast with NZ$15 million already received since it opened on October 9. University of Canterbury said it had received reservation requests from brokers for NZ$35 million for the five year bond offer, which closes on November 30 and is offering 7.25%. Investors can reduce their interest as a donation to the University, which plans to use the bond proceeds for new buildings and technology.