MARAC. DEB. ISSUE

Press, Volume CII, Issue 30234, 12 September 1963, Page 19

MARAC. DEB. ISSUE

Terms Up To Ten Years (N-Z. Press Association} WELLINGTON, Sept. 11. The Manufacturers and Retailers Acceptance Company, Ltd., Auckland, will issue £400,000 of registered debenture stock. The prospectus was filed today. Terms are: three months 4 per cent, six months 41 per cent, 12 months 5 per cent, two years 5f per cent, three years 5j per cent, four yeans 6 per cent, five years 61 per cent, six years 6 3-8 per cent, 10 years 6 5-8 per cent. The general manager (Mr H. L. Thomas) said provision would be made for repayment of the stock to meet death duties in the event of the death of a sole debenture stockholder. Chief Attraction However, the company felt the chief attraction of the issue was not in planning personal estates but in the wide range of terms which made it possible for an investor to receive high interest income but, by selecting an appropriate matunity date, have his money available when he needed it. The debenture stock is secured by a trust deed entered into by the company with National Mutual Nominees, Ltd., who act as trustees for the debenture holders. Under the deed the debenture stock has a first charge over the company’s assets with limitations on future borrowing. The issue will open officially on September 23 Daysh, Renouf and Company, members of the Wellington Stock Exchange, have underwritten £300,000 of the long-term stock.

Schweppes Aust.—Schweppes Australia lifted profit by £13,512 to £261.045 in the last year. This wifi allow for a final dividend of 5 per cent, making a total of 9 per cent for the year against 8 per cent last year. Taxation took £137,445 (£160,235 in the previous year) and depreciation £195,238 (£172.668). (N.Z.P.A.).