Opportunity to invest in Turners Automotive Group Limited Bonds
Turners Automotive Group Limited (Turners) is making an offer of secured, subordinated fixed rate Bonds of up to $25 million (plus over-subscriptions of up to $5 million). There is a General Offer to New Zealand investors, as well as an Exchange Offer for New Zealand holders of Turners’ existing convertible bonds maturing on Monday 1 October 2018.
The offer is now open and closes at 12 noon on 24 September 2018.
The Bonds will pay interest at 5.5% per annum, paid quarterly in arrears in equal amounts
The Bonds have a term of 3 years and mature on 30 September 2021
The Bonds are secured over certain assets of the Turners Automotive Group, and subordinated to certain bank debt and security
The minimum subscription amount is $2,000 and in multiples of $1,000 thereafter.
Further details are contained in the product disclosure statement (PDS)
for the offer.
All applicants will need to complete the application form in or accompanying the PDS. Please consult your financial advisor to help you make an investment decision.