upcoming issue - heritage bonds

http://asx.com.au/asx/research/upcomingFloatDetail.do?asxCode=HBS

Impressive interest rates being offered on this upcoming issue - 10%pa for the first 5 years, and a floating rate of BBSW + 6.6525%pa for the following 5 years. Obviously not a highly rated issue (BBB from S&P), but from my brief glance at the prospectus, it looks like a solid operation.

Can any Queenslanders out there tell me a bit more about Heritage's reputation?

This could be a good security to purchase on market if it trades at a discount to face value.