$500M loan on ‘good terms’
PA Wellington The Petroleum Corporation has raised an overseas loan of $5OO million on “very good terms” said its general manager, Mr James Hogg, yesterday. The leader of the Labour Party (Mr Rowling) told an election meeting at New Plymouth on Tuesday that Petrocorp had raised only $350 million on the London market, and had to resort to private treaty to raise the additional $l5O million “in what they called a pretty tough deal.” Mr Hogg yesterday denied that a private treaty was involved for the $l5O million. The company was dealing with banks, and among those who supported the floating note issue for the $l5O million were those who had supported the credit issue, he said.
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Press, 26 November 1981, Page 2
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122$500M loan on ‘good terms’ Press, 26 November 1981, Page 2
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