Summarised details of the note offer are below:
Issuer: Heartland Bank Limited.
Description: Unsubordinated, unsecured, medium term, fixed rate notes.
Maturity Date: 12 April 2024.
Issue Amount: Up to NZ$75,000,000, with the ability to accept oversubscriptions at the discretion of Heartland.
Interest Rate: The Issuer has announced the indicative interest margin range for the Notes of 1.75% p.a. to 1.90% p.a. The interest rate will not be less than 3.50% p.a. Based on the swap rate on 1 April 2019 of 1.76% p.a. for the period until April 2024, the indicative issue margin implies a nominal interest rate for the Offer of 3.51% to 3.66% p.a. Note this is an indication only. The actual nominal interest rate could be set higher, lower or within this indicative range, subject to the minimum of 3.50% p.a. The actual nominal rate is not expected to be
known until after the bookbuild process on the Rate Set Date.
Issue Price: $1.00 per note.
Listing: The Issuer has made application for the Notes to be quoted on the NZX Debt Market, and it is a term of this offer that it will take any necessary steps to ensure that the Notes are quoted immediately after issue. NZX ticker code HBL020 has been reserved for the Notes.
Credit rating: BBB
Brokerage: Brokerage payable.
Minimum Application: $5,000 and in multiples of $1,000 thereafter.
Important Dates
Opening Date: 01 April 2019
Closing Date: 05 April 2019
Rate Set Date: 05 April 2019
Issue & Allotment: 12 April 2019
Quotation 15 April 2019
If you wish to bid through us, you must read the Term Sheet and please advise your firm interest by no later than 5.00 P.M. Thursday, 4th April 2019.
There is no application for this offer, so FIRM INTEREST must be emailed to Equity Investment Advisers. Reminder that brokerage is payable on this offer.
Please note that you MUST read the Term Sheet before deciding to invest.
Term Sheet
