Big loan deal
McConnell Dowell Corp, Ltd, has signed an agreement for an unsecured loan facility of SBOM with a syndicate of domestic and international banks.
The company chairman, Mr Malcolm McConnell, said the loan would be used to repay existing debt; assist in the financing of the acquisition of City Realities, Ltd, and National Insurance, Ltd; and provide funding for future activities.
The agreement demon-
strated the international reputation the group had established, and its strong financial standing abroad, he said.
PNC International Financial Services, Ltd, organised the loan with the Bank of New Zealand acting as agents. Steps had been taken to restructure the financial facilities of the newly established listed Australian subsidiary, McConnell Dowell Group, Ltd (formerly Acrow Australia, Ltd).
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/CHP19860129.2.174.6
Bibliographic details
Press, 29 January 1986, Page 33
Word Count
123Big loan deal Press, 29 January 1986, Page 33
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.