There are some aspects of this fund which may require extra consideration before deciding to invest.
Issuer can withhold payment
In this case, the provider of this investment may not pay investors back straight away. This is important to know and acknowledge as you research investments.
Issuer's description of this product:
Secured subordinated fixed rate debt obligations of Turners Automotive Group Limited
Minimum investment
This is the minimum amount you would need to put into this in order to invest.
Closing date
This is when this offer closes to investors.
Maturity
Rate
Key facts
Provider website
Intending to list
The issuer has indicated that they are intending to list this investment on a public exchange, or that it is already listed. See the listing here: nzx.com
Issuer's industry
Retail
Credit ratings
Credit ratings can help you understand whether your investment in bonds will pay or if you'll get your money back. They indicate the long-term ability of the issuer to repay its debts. See also the Reserve Bank's primer on credit ratings and a map of the three scales used by the rating agencies.
This is the credit rating for this particular bond or debt security.
Issuer credit rating
This is the credit rating for the organisation issuing the bond or debt security.
Maturity
Maturity description
This investment offer finishes on the above date.
Rate
Key documents
These are the most important documents that a provider is required to file about this investment.
Product disclosure statement
Before you invest in a product like a fund, you are given a PDS which has essential details about it and the company providing it. Here's more on how to read a PDS.
Turners - Product Disclosure Statement - 28 Aug 2018.pdf
How this investment works, including about the provider, risks, costs and potential returns
Additional disclosure documents
These are more documents from the provider that can contain interesting information.
Turners - Deed of Subordination and Priority - 28 Aug 2018.pdf
Turners - Total Estimated Costs - 28 Aug 2018.pdf
Additional details
Issuer details
Name
TURNERS AUTOMOTIVE GROUP LIMITED
Type
NZ Limited Company
Industry
Retail
Website
NZBN
9429039926999
FSP Number
Credit rating
Not provided
Supervisor
Name
PUBLIC TRUST
Offer details
Date registered
28 August 2018
Date opened
28 August 2018
Closing date
24 September 2018
Continuous issue
No
Further payments may be required
Yes
Restrictions on transfer
No
Issuer can withhold, reduce, or delay payment
Yes
Convertible product
No
Intending to list
Yes : nzx.com
Schedule 1 exemption
No
FMA exemption
No
Reference numbers
Offer
OFR12479: OFFER OF SECURED SUBORDINATED FIXED RATE BONDS ISSUED BY TURNERS AUTOMOTIVE GROUP LIMITED
Next steps
Want to know more about this investment or how it compares to others? Have a look at its peers.
Product disclosure statement
Take a deeper dive into the PDS, which has essential details about this offer and the company providing it. Here's more on how to read a PDS.
Market listing
The provider has indicated they are intending to list this investment, or that it is already listed, on a public securities market. Here's where to find the market listing: nzx.com
Getting investment advice
Good advice is gold. Everyone can benefit from expert advice, provided the adviser has your interests at heart. Here's how to find one and key questions to ask.
Interested in investing in this offer? Visit the provider's website. turnersautogroup.co.nz