Four Square makes debenture issue
The Four Square group in Auckland is making a public issue of secured debenture stock through its subsidiary, the National Trading Company of New Zealand, Ltd, to raise up to S2M to help finance continued expension. The issue is of SIM, with a right to accept a further SIM.
The debentures carry an interest rate of 12 per cent for one and two-year terms, and 13 per cent for three and five years. According to National Trading, the funds raised will be used to expand trading activities and provide additional shopping facilities. The issue is conditionally guaranteed by its parent
company, Foodstuffs (Auckland), Ltd, the wholesale company of the group, which also runs Four Square and New World supermarkets. The Four Square group reports having increased its wholesale sales to SI3IM in the year to March 31, compared with SIOOM in 1975-76 —the first year such a figure was reached. Retail sales last year were about SIBSM. The group says competition from chain stores has not hindered progress; it now has nine warehouses throughout the Auckland province and is just completing a SIM 65,000 sq. ft building at Whangarei.
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Press, 22 September 1977, Page 18
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194Four Square makes debenture issue Press, 22 September 1977, Page 18
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