N.Z.I. Finance seeks $6m
(N.Z. Press Association) AUCKLAND. N.Z.L Finance, Ltd, the 75 per cent-owned subsidiary of the New Zealand Insurance Company, Ltd, is seeking up to s6m in a new debenture issue carrying a top rate of 11 per cent. The previous issue of the company also offered a top rate of 11 per cent for debenture stock of five years and over. This issue was oversubscribed by s2.lm. Rates in the latest issue are 11 per cent for five years and over, 7| per cent for four years, 7 per cent for three years, 6J per cent for two years, 6 per cent for one year, 5| per cent for six and three months terms. Call rates are by arrangement.
Compounding interest stock is available while N.Z.L Finance is again offering a free double indemnity accidental death policy to individuals investing for terms of five years and over.
A nominal s2m is being sought with provision to take s4m in oversubscriptions. The issue is not under-written.
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Bibliographic details
Press, Volume CXV, Issue 33804, 29 March 1975, Page 18
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168N.Z.I. Finance seeks $6m Press, Volume CXV, Issue 33804, 29 March 1975, Page 18
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