Geneva Finance makes payments early

NZAX-listed Geneva Finance, which entered into a moratorium in November 2007 owing investors $132.4 million, said it is making payments to both debenture holders and its lender early.

The company is now in the position to pay March 31, 2011 debenture holders principal of $2.5 million and bring forward a scheduled $2.5 million reduction in its facility with BOS International (Australia) Ltd to tomorrow rather than on March 31.

Inclusive of this payment, Geneva Finance has repaid $111.3 million of investor principal and interest payments since it entered the moratorium.

The company borrows money by the issue of debenture stock and subordinated notes. It also has a revolving banking facility with BOS International.

Comments from our readers

Add your comment:

Your name:
Your email:	Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Anti-spam verification:

Type the text you see in the image into the field below. You are asked to do this in order to verify that this enquiry is not being performed by an automated process.

Related News:

Deposit scheme reduces risk, boosts trust - General Finance
May 12th Morning Report
PFI - Q3 Div & Upgraded FY25 Div Guidance, FY26 Div Guidance
AIA - Auckland Airport announces leadership team change
May 9th Morning Report
May 8th Morning Report
NZME Takeovers Panel determination
MNW - Commerce Commission clears the Contact Energy acquisition
May 7th Morning Report
General Capital Appoints New CFO