|Indicative market yield (% pa)||N/A|
|Indicative market price (%)||63.00|
|Issuer||Motor Trade Finances|
|Amount on issue (NZ$m)||40.0|
|Description||Redeemable Preference Share|
|Assumed maturity date||01 Oct 2018|
|Legal maturity date||Perpetual|
|Coupon type||Reset Quarterly|
|Next coupon reset date||01 Oct 2018|
|Coupon reset at||1 yr swap plus 2.40|
|Election/Conversion date||21 Dec 2017|
|First & future call dates||Continuous|
|Margin reset date||N/A|
|Holdings - minimum/increments ($)||5,000/1,000|
|Issue documentation||Click here|
The Redeemable Preference Share are a perpetual instrument and as such have no fixed redemption date and the holder has no rights to require redemption.
The dividends are intended to be fully imputed. If any part of a dividend is not fully imputed, the issuer shall pay a cash amount equal to the shortfall in imputation credits.
Dividends are non-cumulative which means that if a dividend is not paid when scheduled, the issuer has no liabilty to pay that Dividend.
Please refer to the investment statement for further details on payment of dividends.
The information contained on this page details certain terms of the bonds extracted from sources that interest.co.nz believes to be accurate and reliable. interest.co.nz accepts no liability for any omissions or errors contained in this information. Any prices and/or yields displayed are indicative only and are subject to change. The information contained on this page must not be construed as a recommendation or advice by interest.co.nz to buy, sell, hold or otherwise deal in the bonds.