C.S.R. PLANS ISSUE

Press, Volume CIII, Issue 30586, 31 October 1964, Page 20

C.S.R. PLANS ISSUE

Offer Of £sm In Deb. (N.Z. Press Association) WELLINGTON, Oct. 30. Directors of Colonial Sugar Refinery Company, Ltd., have decided to offer to shareholders and debenture holders subscription to an issue of £sm of debentures. The company will reserve the right to accept over subscription up to £2m. The purpose of the issue is to provide funds to assist in financing the expansion of existing operations and recent new ventures which the company has announced. Full particulars of the offer, together with application forms, will be sent to shareholders and debenture holders at an early date. Offered At Par Debentures will be offered at par with maturities and rates of interest as follows: 5 year 6} per cent debentures maturing March 31, 1970. 10 year 7 per cent debentures maturing March 31, 1975. 15 year 7 per cent debentures maturing March 31, 1980. The company will reserve the right to repay the 10 year debentures on or after March 31, 1973, and 15 year debentures on or after March 31, 1978. The right will also be reserved to restrict the issue of the 15 year debentures to a maximum of £2.5m. The issue is expected to open for subscription about mid-November and close about December 21. Stock Exchange listing of the debentures will be applied for.