S3SM loan for ferry
PA , . Wellington $ - The Railways Corporation has borrowed $35 million through' the Bank of New Zealand to pay for the new Cook Strait rail ferry. The corporation’s assistant general manager (administration and finance), Mr Euan McQueen, said yesterday that the bank was the leader in a consortium which had lent the money. The loan was the first big exercise in the Railways’
new client-trading bank relationship with the Bank of New Zealand. A number of reputable overseas banks were involved in the loan, said Mr McQueen. The ferry Ara 5 is under construction in Denmark, and is expected in New Zealand late next year. It is planned as a replacement for the Aramoana, and will be bigger than any of the existing ferries.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/CHP19820616.2.41
Bibliographic details
Press, 16 June 1982, Page 6
Word Count
126S3SM loan for ferry Press, 16 June 1982, Page 6
Using This Item
Stuff Ltd is the copyright owner for the Press. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Copyright in all Footrot Flats cartoons is owned by Diogenes Designs Ltd. The National Library has been granted permission to digitise these cartoons and make them available online as part of this digitised version of the Press. You can search, browse, and print Footrot Flats cartoons for research and personal study only. Permission must be obtained from Diogenes Designs Ltd for any other use.
Acknowledgements
This newspaper was digitised in partnership with Christchurch City Libraries.
Log in