CON. HOTELS DEBENTURES
Issue Fills In Advance (N.Z Press Association > I AUCKLAND, August 11. The prospectus for the £l.3m debenture issue by Consolidated Hotels, Ltd., Auckland, was published today but the entire issue has al-1 ready been filled through advance reservations. The issue is expected to close immediately after open-! ing on August 24. Consolidated Hotels, which' has 16 provincial hotels and! Waikato Breweries, is owned j on a 50-50 basis by L. D. Nat-! han and Company, and New Zealand Breweries. The two parent companies i guarantee both capital repayiment and interest payment. Interest rates vary from 61 'per cent for five years to 7 • per cent for 20 years. Of the issue, £250,000 will be taken by the Government under its tourist accommodation development scheme and £550,000 will be issued to the Guardian Assurance Company in conversion of present mortgages. The issue has been underwritten by Buttle, Wilson, Rutherfurd and Company, members of the Auckland Stock Exchange. Stock Exchange listing has been applied for.
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Bibliographic details
Press, Volume CVI, Issue 31136, 12 August 1966, Page 16
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166CON. HOTELS DEBENTURES Press, Volume CVI, Issue 31136, 12 August 1966, Page 16
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