Heritage offers investors 10% for 5 years

18/09/2009

Heritage Building Society today announced the launch of an ASX listed subordinated debt transaction, to raise approximately $30 million, with the ability to raise more or less.

Heritage Treasurer, Mr Paul Williams said that Heritage notes provide a strong investment opportunity for members and investors with the security scheduled to pay interest of 10% pa fixed for five years, following which the interest rate will change to a floating rate until the maturity date in ten years (unless redeemed earlier).

Mr Williams highlighted, “This transaction is not only a first for Heritage but the first ASX listed debt transaction by a mutual Authorised Deposit-taking Institution (ADI).”

Heritage Chief Executive Officer, Mr John Minz said “For Heritage members, this is a unique opportunity to benefit from the favourable market conditions for an investment of this type. This is just another example of Heritage putting People first.”

The Heritage Notes offer will open on Wednesday 23 September, 2009 with an expected closing date of Monday 19 October, 2009. The Joint Lead Managers for the transaction are UBS and Westpac, with FIIG Securities acting as Syndicate Broker.

To obtain a copy of the Prospectus call the Heritage Notes information line on 1300 022 174 or log onto www.heritagenotes.com.au. Anyone who wants to acquire Heritage notes must complete the application form that accompanies the Prospectus.

Source: Heritage Building Society

Previous Article  Next Article