Precinct Properties New Zealand Limited has registered a Product Disclosure Statement (PDS) for an offer of up to $150 million of subordinated convertible notes.
The offer includes a shareholder priority offer of up to $25 million.
The notes will convert into ordinary shares in Precinct NZ, and the conversion date is set for September 2026 and September 2027.
The offer is expected to open on September 4, 2023, and close on September 7 and 8, 2023, for the shareholder priority offer and general offer, respectively.
The notes will pay a fixed rate of interest and the number of stapled shares to be issued upon conversion will be determined by the conversion price.
Precinct NZ may choose to pay a cash amount instead of converting the notes into shares.
The offer is being made in accordance with the Financial Markets Conduct Act 2013 and the notes are expected to be quoted on the NZX Debt Market.
Interested investors can obtain further details from the Joint Lead Managers.
See more
