There are some aspects of this fund which may require extra consideration before deciding to invest.
Convertible financial product
This is an investment that may become changeable, or change, into another kind of investment. Convertibles are usually bonds or preferred shares that can be converted into common stock. They may offer protection against heavy losses, but also typically give up some increases in value.
Ordinary shares in Precinct NZ. As a consequence of the issue of the shares by Precinct NZ, under the Stapling Deed, Precinct Properties Investments Limited (Precinct Investments) must issue a corresponding number of fully paid ordinary shares for no consideration. Accordingly, following the Conversion, relevant Noteholders will hold ordinary shares in Precinct NZ and a corresponding number of ordinary shares in Precinct Investments. The Precinct NZ and Precinct Investments shares will be stapled under the Stapling Deed.
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:
Subordinated convertible notes
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
Rental/hiring/real-estate
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.
Precinct - Replacement Product Disclosure Statement - 1 September 2023.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.
Precinct - Total Estimated Costs of Offer and Issue.pdf
Precinct - Stapling Deed.pdf
Precinct - Investor Presentation.pdf
Precinct - Investor Presentation - 1 September 2023.pdf
Precinct - Indicative Terms Sheet - 4 September 2023.pdf
Additional details
Issuer details
Name
PRECINCT PROPERTIES NEW ZEALAND LIMITED
Type
NZ Limited Company
Industry
Rental/hiring/real-estate
Website
NZBN
9429031565783
Credit rating
Not provided
Supervisor
Name
THE NEW ZEALAND GUARDIAN TRUST COMPANY LIMITED
Offer details
Date registered
25 August 2023
Date opened
04 September 2023
Closing date
08 September 2023
Continuous issue
No
Further payments may be required
Yes
Restrictions on transfer
No
Issuer can withhold, reduce, or delay payment
Yes
Convertible product
Yes: Ordinary shares in Precinct NZ. As a consequence of the issue of the shares by Precinct NZ, under the Stapling Deed, Precinct Properties Investments Limited (Precinct Investments) must issue a corresponding number of fully paid ordinary shares for no consideration. Accordingly, following the Conversion, relevant Noteholders will hold ordinary shares in Precinct NZ and a corresponding number of ordinary shares in Precinct Investments. The Precinct NZ and Precinct Investments shares will be stapled under the Stapling Deed.
Intending to list
Yes : nzx.com
Schedule 1 exemption
No
FMA exemption
No
Reference numbers
Offer
OFR13575: OFFER OF SUBORDINATED CONVERTIBLE NOTES DUE 2026 ISSUED BY PRECINCT PROPERTIES NEW ZEALAND 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. precinct.co.nz