Feltex Carpets Secured Bonds

Issuer: Feltex Carpets Ltd

Type of securities: Secured bonds with a second ranking charge over the assets of Feltex and some of its subsidiaries.

Size: $50 million with $10 mill over subscription

Maturity: September 15, 2008. Repayment in cash

Interest rate: 10.25%, payable quarterly in arrears

Other: A priority entitlement at a 5% discount to a future IPO; increase in rate to 11.75% if no IPO by September 30, 2005 payable until IPO undertaken or bonds mature

Offer opens April 14, 2003

Offer closes May 30, 2003

Minimum subscription 5000 secured bonds then in multiples of 1000

More information email feltex@sharechat.co.nz

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