Investment Details

The offer closed on 31 Mar 2006.

The Bonds are first ranking secured debt obligations in respect of assets which are not subject to a prior charge and otherwise rank behind prior charges.
The Bonds have a maturity date of 15 May 2011.
The Bonds pay a fixed rate of interest at 9.25%. Interest on the Bonds will accrue from the date of allotment.
Bonds with an aggregate principal amount of up to $25 million were issued. In addition, the Issuer elected to accept over-subscriptions with an aggregate principal amount of up to a further $25 million. The maximum aggregate principal amount of Bonds of $50 million was issued.
The Issuer is the parent company of a property investment and financing group with a diversified portfolio of property-related assets and investments. The proceeds of the issue of Bonds will be applied by the Issuer to fund the group’s property investment and financing activities, and to repay some of the existing Debenture Stock previously issued by the Issuer.
The offer is available to New Zealand residents only.
The offer opened on 15 December 2005 and closed on 31 March 2006.
Application has been made to NZX for permission to list the securities and all the requirements of NZX that can be complied with on or before the date of the distribution of this advertisement have been complied with. However, NZX accepts no responsibility for any statement in this advertisement.
Series 3 - Fixed Rate NZX