TAPPENDEN FINANCE
Up To 7 p.c. Offered (N.Z. tress Association) „ AUCKLAND, Jan. 15. Tappenden Group Finance Company, Ltd, Auckland, is offering up to 7 per cent interest for six years in its $144,000 debenture issue announced last month.
The company was formed toward the end of 1966 as a subsidiary of Tappenden Motors. Ltd, Vauxhall and Bedford distributor, as a general finance company for the group. It will receive all finance business resulting from the sale of motor vehicles, plant and machinery by the trading companies of the group. Floating Charge Much of this finance business was in previous years handled by companies outside the group. The debenture stock will be secured by floating charge, with principal and interest unconditionally guaranteed by the parent company. The trustee is the Guardian Trust.
Terms are: three years, 6 3-8 per cent; four years, 6 5-8 per ceht; five years, 6 7-8 per cent and six years, 7 per cent.
Oversubscriptions will not be accepted. Stock exchange listing of the debentures has been applied for.
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Bibliographic details
Press, Volume CVIII, Issue 31579, 17 January 1968, Page 18
Word Count
172TAPPENDEN FINANCE Press, Volume CVIII, Issue 31579, 17 January 1968, Page 18
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