All of the Infratil Bonds are listed on the NZX and most trade on a regular basis. Mainly however investors hold to maturity so trading is much less than for Infratil’s shares.
This website has bids/offers and the last price of listed bonds, including all those issued by Infratil.
The secondary market price tends to reflect the number of buyers and sellers and will tend to fluctuate over time.
Usually Infratil seeks to offer holders of maturing bonds a reinvestment option. Historically about 50% of maturing bonds have been reinvested into the next issue.
The Bondholders' rights are set out in the Investment Statement. However as there are technicalities and complexities in some of the terminology contained in this description it is a good idea to talk with a professional adviser such as a broker or financial planner. The Bonds are not subordinated, but in certain situations Bondholders may not have priority claims to the assets owned by Infratil.
Trustees are now known (legally) as Supervisors, and for Infratil’s bond holders this role is undertaken by Trustees Executors Limited, Level 5 10 Customhouse Quay, Wellington. Telephone : 04 495 0999.
The terms of Infratil’s Bonds are set out in their individual prospectus and trust deeds. Each six months Infratil provides the Trustee with a certificate signed by directors confirming its position relative to the Bond covenants and with regards to general compliance with Bond terms. Infratil has always recorded conformity. Bondholders are welcome to contact the Trustee to confirm Infratil’s compliance.
Visit the Infratil Bonds page which includes a special section about the Perpetual Bonds. Each year the Infratil Annual Report includes a section with information especially relevant to bondholders. In addition, most New Zealand brokers and several of the trading banks have participated in Infratil Bond issues and are available to provide information and advice.
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