Key Terms of Offer - UC Philanthropic Bonds - University of Canterbury - New Zealand

Key Terms of Offer

Issuer: University of Canterbury
Offer Size: Up to NZ$50m
(with ability to accept $50m oversubscriptions)
Instrument: Fixed rate, unsubordinated, unsecured bonds
Rating and Listing: Unrated
Listing: Application to the NZDX
Interest: 7.25% p.a. for the first 5 years and reset at 1.75% p.a. over the then prevailing 5 year swap rate
Interest Payments: Semi-annually on 15 June and 15 December. First interest payment paid 15 June 2010 to original subscriber
Maturity: 15 December 2019 (10 years)
Parcel Size: Minimum $5,000 and multiples of $1,000 thereafter
Purpose: Proceeds used to support University of Canterbury’s capital investment programme
Closing Date: 30 November 2009
Allotment Date: Continuous allotment throughout the Offer with interest payable from allotment. The University intends to reserve the last $25m out of $100m for committed donors and alumni.
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