$3m sought by Lombard
I Lombard New Zealand, )Ltd, is making an issue at ipar of $3 million secured debenture stock with a right to accept oversubscription amounting to $3 million. The managing director (Mr R A. Beck) said that this is the second issue of secured debenture stock and replaces the customary half yearly issue of unsecured deposits. The previous issue of $3 million secured debenture stock late last August was 50 per cent oversubscribed, Mr Beck said, and Lombard was confident there would be a similar result on this occasion, especially as once again the stock was secured by a first charge on all the assets of the Lombard Group in New Zealand. Lombard secured debenture • stock also ranked ahead of all borrowings from the parent group, National Westminster Bank, Ltd. Interest rates range from 51 per cent for three months and six months to 10 per cent for five years and more.
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Bibliographic details
Press, Volume CXV, Issue 33778, 26 February 1975, Page 12
Word Count
155$3m sought by Lombard Press, Volume CXV, Issue 33778, 26 February 1975, Page 12
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