I read the announcement regarding Heartland 'considering' a new un-subordinated note for NZ wholesale and retail investors Percy. A 'sister issue' to the Heartland HBL010 4.5% note issued on 21-09-2017. Since they are only 'considering' making such an issue, I thought that Jeff was very organized having all the lead managers of the issue named and appointed. Am I correct in saying that the old HBL010 issue was for a total of $151.853m? Looks like Jeff may be fishing for participants, and if there are more that take the hook than he wants, then the interest rate offered will be less than 'they' want. All good for shareholders though!
In some ways I hope this new bond issue fails to get off the ground. This would then 'prove' the need for the company to have restructured into Heartland Group Holdings, because of the lack of appetite of NZ investors to fund Heartland's expansion. However, I can't personally complain about the creation of HGH, because the subsequent share price plunge is what gave me my competitive entry price into the Heartland shareholder family.
Depending on how things pan out, I may just be 'considering' increasing my Heartland share holding ;-P
SNOOPY