J. WATTIE MOVE
Terms Of Deb. Issue
Details of the debenture issue of £600,000, part of a scheme by J. Wattie Canneries, Hastings, to raise £1.25m of additional capital to finance company expansion, have now been announced.
The prospectus for £600,000 mortgage debentures is expected to be available early in November after publication of the annual report for the year to July 31. The issue will rank pari passu with the company's existing debentures totalling £400,000, and will be secured under a new trust deed. The New Zealand Insurance Company will continue to act as trustee.
The proposed terms are 61 per cent for seven years, 6; per cent for 10 and 15 years, and 6 7-8 per cent for 20 and 25 years. The minimum subscription will be £lOO plus multiples of £lOO. Payment will be either in full on application or 25 per cent on application and the balance by mid February.
Interest will be .payable half-yearly.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/CHP19660910.2.174
Bibliographic details
Press, Volume CVI, Issue 31161, 10 September 1966, Page 18
Word Count
159J. WATTIE MOVE Press, Volume CVI, Issue 31161, 10 September 1966, Page 18
Using This Item
Stuff Ltd is the copyright owner for the Press. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Acknowledgements
This newspaper was digitised in partnership with Christchurch City Libraries.