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).
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Press, 29 January 1986, Page 33
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123Big loan deal Press, 29 January 1986, Page 33
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