Fletcher Building note holders are the latest target of an unsolicited low-ball offer for their capital notes from Australian company Stock & Share Trading.
The capital notes carry an interest rate of 8.50 per cent and are due for an interest reset on March 15, 2015.
Stock & Share Trading is offer 80c for every $1.00 of notes, which have a current market value of about $1.09.
This is 20 per cent below their face value and around 25 per cent less than the current market value.
Note holder who accepted the offer before 5pm on September 5 would not receive the next six-monthly interest payment payable on September 15.
The Financial Markets Authority has previously issued warnings about unsolicited offers from Stock & Share Trading and to treat any offers from the company with caution.
Fletcher Building urged note holders to seek independent advice before accepting the offer.
- © Fairfax NZ News