News

NZF expects investors to go for notes not shares

Wednesday 2nd of March 2011

By February 24, noteholders owning nearly $16.4 million worth of the $20.05 million notes on issue had opted to rollover to new five-year notes paying 6%, well below the 9.25% the notes currently earn.

The offer, originally due to close on February 24, was extended to March 10 because of mail disruptions caused by Christchurch's earthquake.

"We are seeing more acceptances daily,"...

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