Heartland Bank Limited announced today that they are offering up to $75 million of 5 year, unsecured, unsubordinated, fixed-rate notes.
Heartland Bank is one of New Zealand’s largest vehicle finance companies. The issue margin lies between 1.75% to 1.90% and will be set in a bookbuild on April 5. The interest rate will not be less than 3.5% per year.
All of the Notes have been reserved for the Joint Lead Managers and their clients, and NZX Primary Market Participants and other institutional investors. The offer won’t have a public pool. The Joint Lead Managers are BNZ, Commonwealth Bank of Australia, Deutsche Craigs, and Westpac Banking Corporation.
The Notes will have a maturity date of 12 April 2024 and are expected to be quoted on the NZX Debt Market.
