Brierleys raises $7M in Germany
PA Wellington Brierley Investments, Ltd, has raised SUSSM (about SNZ7M) in the West German eurodollar market, through the Wellington shareholder, Frank Renouf and Company in association with Richard Daus and Company, of Frankfurt. Brierley is believed to be the first New Zealand company to raise a loan on the West German market. A director of Brierley, Mr Trevor Beyer, said yesterday that it was the first time it was done, in this way by a New Zealand company as far as he was aware.
He said the negotiations took place quite some time ago and the money was for general purposes for the “ongoing business" of the company. Mr Beyer said that everyone was affected by what was happening in the New Zealand economy, and Brierley. with its wide ranging investments, was no exception. Brierley has received permission to increase its present share in Neil Holdings to 50 per cent from 35 per cent and in Consolidated Metal Industries. Ltd, from 27 per cent to 35 per cent.
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Press, 18 February 1983, Page 12
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173Brierleys raises $7M in Germany Press, 18 February 1983, Page 12
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