[ Wednesday, 21 February 2007 ]
|The year has got off to a great start with the launch of the Fidelity Capital Guaranteed Bonds offered by Fidelity Capital Guaranteed Bond Limited (Issuer).|
The year has got off to a great start with the launch of the
Fidelity Capital Guaranteed Bonds offered by Fidelity Capital
Guaranteed Bond Limited (Issuer); giving investors the opportunity to
earn a generous return while protecting their capital with a guarantee
from Westpac Banking Corporation ABN 33 007 457 141, incorporated in
Australia (New Zealand division) (Westpac).
The Bonds are promoted by NZ insurer Fidelity Life Assurance Company
Limited. Income on the Bonds is generated through the investment of
the issue proceeds by Tyndall Investment Management, with Westpac
Institutional Bank, a division of Westpac Banking Corporation, New
Zealand Branch (ABN 33 007 457 141) and First NZ Capital Securities
Limited being the joint lead managers.
This unique fixed term investment offers a return of 9.25% per annum
payable half yearly over approximately a 6.3 year period. While the
offer does not close until 30 March 2007, firm allocations have
already exceeded the $75 million Bonds on offer.
Milton Jennings, Chief Executive Officer says “the number of firm
allocations received has exceeded our expectations. The partnership we
have with joint lead managers, Westpac Institutional Bank and First NZ
Capital has worked extremely well and shows that there is a strong
demand for similar products in the market”.
For more information on the Bonds and to obtain a copy of the
investment statement, please call the joint lead managers, Westpac on
0800 489 222 or First NZ Capital on 0800 111 233.
Westpac guarantees the payment in full of the principal amount at
maturity of the Bonds to the extent that the principal amount is not
paid in full by the Issuer. The capital guarantee, if invoked, ranks
as an unsecured obligation of Westpac. The Bonds constitute second
ranking secured obligations of the Issuer. The minimum investment in
Bonds is $5,000. The payment of interest is a second ranking secured
obligation of the Issuer, but may be suspended in certain
circumstances and is not guaranteed.
Application has been made to NZX for permission to list the securities
and all the requirements of the NZX relating thereto that can be
complied with on or before the date of the distribution of this
advertisement have been duly complied with. However, NZX accepts no
responsibility for any statement in this advertisement.
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