Debenture Issue By I.C.I.A.N.Z.
(N.Z. Press Association—Copyright) SYDNEY, July 16. Imperial Chemical Industries of Australia and New Zealand, Ltd (1.C.1.A.N.Z.), has announced a cash conversion issue to existing security holders of $7,460,000 debenture stock with the right to retain over-subscription of cash up to $2.64m.
The issue replaces s6m 4 per cent debenture stock and $1.46m 7 per cent unsecured notes maturing on November 30, and will provide additional working capital. The isues has been underwritten jointly by A. C. Goode and Company, members of the Melbourne Stock Exchange, and Chase-NBA Group, Ltd. It will carry interest at 7.75 per cent over five years, 8.5 per cent over 10 years and 8.75 per cent- over 15 years. Holders o'f the maturing securities and unsecured notes may convert all or part of their holdings. These applications will have prior rights to $7.46m until September 25.
Lists for cash applications will open on September 30. Payments may be made either in full on application or 10 per cent on application and the balance on March 31.
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Bibliographic details
Press, Volume CX, Issue 32352, 18 July 1970, Page 19
Word Count
174Debenture Issue By I.C.I.A.N.Z. Press, Volume CX, Issue 32352, 18 July 1970, Page 19
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