Goodman Property Trust is looking to raise up to $150 million to refinance its debt.
The trust made a profit of $13.2 million in the six months to September, a turnaround from the $11.3 million loss it made in the same period last year.
But earnings fell almost 10% to $38.5 million, due mainly to higher finance costs and a more subdued leasing market.
Goodman Property Trust has sold more than $100 million in assets in the last year to shore up its balance sheet and now hopes to raise up to $150 million through a five-year, senior ranked bond issue.
Chief executive John Dakin says the bond offer aims to diversify debt funding, which has traditionally come from banks.
He would not give details of what interest might be on offer, but says the prospectus will be lodged on Friday and the bonds will have a Triple B+ rating from Standard and Poor's.
Mr Dakin says the current level of debt within the portfolio equates to 36% of property assets, which is at the lower end of the targeted 35% to 40% range.
The second half of the year will be challenging for Goodmand Property Trust, but things remain positive, he says.
