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New Issues

Posted in Bonds

 

Precinct Properties New Zealand Limited

Issuer

Precinct Properties New Zealand Limited

Issue type Fixed rate, semi-annual senior secured bonds
Rank

Senior

Maturity 17 December 2021
Early redemption You have no right to require redemption of any of the Bonds
prior to the Maturity Date, except through the Bond Trustee
if an Event of Default occurs. This means that you have no
ability to cash in your investment prior to the Maturity Date,
except following an Event of Default or by selling your Bonds
in the secondary market (if one develops).
Coupon (%) An indicative margin is between 1.30% to 1.45% p.a.
Amount $75 million ($50 mln + $25 mln over subscriptions)
Opening date 8 December 2014
Closing date 12 December 2014
Listed Applied for NZDX listing  - PCT010
Credit rating None - these bonds will be unrated
Lead manager(s) ANZ, Deutsche Craigs, First NZ Capital & Macquarie
Information NZX announcement & Investment Statement

News

Precinct Properties NZ Ltd new retail bond issue. There is no public pool for this offer.

Notes

  • Swap or NGZS plus a margin means the actual rate will be set at that margin over the relevant maturity swap rate or Government bond rate, usually a couple of days before the issue date. Click here for swap rates and here for Government bond rates.
  • The amount on offer is usually allocated to brokers who then accept subscriptions up to their allocations. The lead manager(s) control the allocation of bonds. There can be a public pool which is not allocated and subscriptions under the public pool are made directly to the issuer or lead manager(s).
  • Listing on NZDX unless stated otherwise.