There are some aspects of this fund which may require extra consideration before deciding to invest.
Restrictions on transfer
There are rules around transfering in and out of this investment, which may depend on eligibility. For example, overseas investors may not be able to transfer into some New Zealand managed funds. Or there may be restrictions on withdrawals, such as not until age 65 for KiwiSaver funds.
Issuer's description of this product:
Debt security in the form of fixed rate 6 year bonds
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
Electricity/gas/water/waste
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.
(Standard & Poor's)
This is the credit rating for this particular bond or debt security.
Issuer credit rating
(Standard & Poor's)
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.
Vector Limited - Product Disclosure Statement - 1 May 2019.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.
Vector - Other Information.pdf
Indicative terms sheet.pdf
Negative Pledge Deed.PDF
Investor Presentation.pdf
Indicative Terms Sheet (Updated).pdf
Final terms sheet.pdf
Additional details
Issuer details
Name
VECTOR LIMITED
Type
NZ Limited Company
Industry
Electricity/gas/water/waste
Website
NZBN
9429039215109
FSP Number
Credit rating
BBB (stable outlook) (Standard & Poor's) on 06 November 2018
Supervisor
Name
THE NEW ZEALAND GUARDIAN TRUST COMPANY LIMITED
Offer details
Date registered
01 May 2019
Date opened
13 May 2019
Closing date
16 May 2019
Offer credit rating
BBB (Standard & Poor's) on 01 May 2019
Continuous issue
No
Further payments may be required
No
Restrictions on transfer
Yes
Issuer can withhold, reduce, or delay payment
No
Convertible product
No
Intending to list
Yes : nzx.com
Schedule 1 exemption
No
FMA exemption
No
Reference numbers
Offer
OFR12633: OFFER OF FIXED RATE 6 YEAR BONDS ISSUED BY VECTOR 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. vector.co.nz