Bond Offer - Fixed Rate 6 year bonds
Vector Limited (Vector) is making an offer of up to $200 million (with the ability to accept up to $50 million of oversubscriptions at Vector’s discretion) of 6 year, unsecured, unsubordinated fixed rate bonds maturing on 27 May 2025 (Bonds) to New Zealand retail investors and institutional investors (Offer).
Please see below for details of the Offer, including the product disclosure statement for the Offer. For any queries, please contact one of the Joint Lead Managers (refer details below). There is no public pool for the offer, with all of the Bonds being reserved for clients of the Joint Lead Managers, NZX Participants and other approved financial intermediaries.
Vector has registered a Product Disclosure Statement (PDS) in relation to the Offer. You should download a copy of the PDS before applying for any Bonds using the link below.
Other useful information about the Offer, including copies of the Trust Deed and the Series Supplement, is available on the Register Entry for the Offer on the Disclose Register – search for 'Vector' or the offer number OFR12633. You should also read the NZX announcements released by Vector.
*The timetable above is indicative only and subject to change. Vector may, in its absolute discretion and without notice, determine to vary the timetable. Changes will be advised by way of announcement through NZX. If the Closing Date is extended, the Rate Set Date, the Issue Date, the expected date of initial quotation and trading of the Bonds on the NZX Debt Market, the Interest Payment Dates and the Maturity Date may also be extended. Any such changes will not affect the validity of any applications received.
Vector reserves the right to cancel the Offer and the issue of the Bonds, in which case all application monies received will be refunded (without interest) as soon as practicable and, in any event, within five NZX trading days of the cancellation.
If you have any questions about the Offer, you should contact one of the Joint Lead Managers:
- Westpac Banking Corporation (acting through its New Zealand branch) on 0800 942 822
- ANZ Bank New Zealand Limited on 0800 269 476
- Deutsche Craigs Limited on 0800 226 263
- Forsyth Barr Limited on 0800 367 227
The offer of Bonds is made by Vector on the terms and conditions set out in the Product Disclosure Statement dated 1 May 2019 (PDS). You should download and read the PDS and the Register Entry information contained on the Offer Register before applying for any Bonds. You can also seek advice from a financial adviser to help you to make an investment decision. You should seek your own tax advice in relation to the Bonds.
You must receive a copy of the PDS before applying for Bonds.
Any capitalised terms used on this webpage but not defined have the same meaning as given to those terms in the PDS.
Application has been made to NZX for permission to quote the Bonds on the NZX Debt Market and all the requirements of NZX relating thereto that can be complied with on or before the date of this webpage have been duly complied with. However, the Bonds have not yet been approved for trading and NZX accepts no responsibility for any statement in this webpage. NZX is a licensed market operator and the NZX Debt Market is a licensed market, each regulated under the Financial Markets Conduct Act 2013.
Vector has not taken and will not take any action which would permit a public offering of Bonds, or possession or distribution of any offering material in respect of the Bonds, in any country or jurisdiction where action for that purpose is required (other than New Zealand). You should refer to the specific selling restrictions in respect of the offer of Bonds on the Register Entry for the Offer for details.
Details of Vector's bonds that are quoted on the NZX Debt Market (VCT080).
On 5 November 2002 Vector issued unsecured, subordinated capital bonds (Capital Bonds) under a trust deed dated 25 September 2002 (as amended).
The current terms and conditions of the Capital Bonds can be found in the Capital Bonds Trust Deed and the Explanatory Notes dated 3 May 2017. A copy of the Replacement Security Deed Poll also relevant to the Capital Bonds can be found here.