Huge bond issue
The chairman of the New Zealand Railways Corporation, Mr L. M. Papps, yesterday announced the signing of a $NZ50,000,000 bond issue, the proceeds of which will be used to finance the corporation’s capital expenditure programme. The bond issue, which is one of the largest New Zealand dollar issues undertaken for a New Zealand corporation, is jointly managed by South Pacific Merchant Finance, Ltd, and Development Finance Corporation of New Zealand.
The issue has been structured as a private placement and will be offered by the managers to institutional investors. The bonds will mature 1987-1990 and will be subscribed by investors in either bearer or registered form. The terms and conditions of the placement reflect the status of the corporation, and is the first issue of securities by New Zealand Railways Corporation available to institutional investors in the New Zealand capital markets.
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Press, 2 July 1983, Page 24
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144Huge bond issue Press, 2 July 1983, Page 24
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