A.G.C. (N.Z.) seeks $2SM

Press, 22 November 1978, Page 30

A.G.C. (N.Z.) seeks $2SM

Australian Guarantee Corporation (N.Z.), Ltd, has released a new prospectus for guaranteed first-charge debenture stock and guaranteed unsecured notes seeking SISM with over-subscrip-ons for a further SIOM. In announcing the new prospectus, the manager for A.G.C. (N.Z.) (Mr G. J. White) said the prospectus came after a successful year for the company, with the group net profit rising 23 per cent to $2.7M. Furthermore, the parent company, Australian Guarantee Corporation, Ltd. of Sydney, who unconditionally guarantee the New Zealand company’s public borrowings, also recorded increased

■ profits to $44.5M. • The rates offered for the r debentures are: For three - months and six months un■changed at 9 per cent; at 12 ; months unchanged at 11.5 ■per cent: 18 months, 12 per cent (11,75 per cent); two -years, 13 per cent (12 per -cent); three, four and five .years, 13 per cent (12.5 per; ; cent). r For unsecured notes, three! ■ months at 9 per cent, six! I months, 9.5 per cent, nine; months, 10.5 per cent, and' 112 months, 12 per cent, re-1 . main unchanged; 18 months,! . 12.5 per cent (12.25 per -cent); two years, 13.25 peri [cent (12.5 per cent); and! .three years, 13.25 per cent! I (12.75 per cent). ;