Sharechat Logo

SCF looks to raise another $100 mill

Tuesday 13th May 2008

Text too small?
South Canterbury Finance is looking to raise up to $100 million through a secured bonds offer.

It is looking to make an offer of up to $75 million of first ranking, three year, fixed rate secured bonds, and have the ability to accept another $25 million in oversubscriptions.

Forsyth Barr has been appointed lead manager of the proposed offer.

It is expected Forsyth Barr will underwrite the offer up to $75 million.

The bonds will be first ranking, secured, three-year term, fixed rate securities with interest paid at the higher of 10.50% and a margin of 2.75% above the three year swap ratefollowing the closing of the offer.

SCF, which has a BBB- Standard and Poor's rating, conducted a successful bond offer last year. That offer closed fully subscribed and it is understood SCF was surprised at the amount of interest in that offer.

A prospectus and investment statement for the new offer is expected to be registered in mid May.

The bonds will be listed on the NZDX.

To get a copy of the Investment Statement when it comes out send your details (name, addrees, phone) here

  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
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.

Related News:

Contact Energy Limited (NZX: CEN) Considers Green Capital Bond Offer
Tourism Holdings Limited (NZX: THL) Sells Mighway and SHAREaCAMPER to Camplify
26th October 2021 Morning Report
Harmoney Corp Limited (NZX: HMY) Prices $105m Inaugural ABS Transaction
New Zealand Rural Land Company Limited (NZX: NZL) Agreement to acquire large scale dairy asset portfolio
EROAD Limited (NZX: ERD) launches Clarity Solo Dashcam
22nd October 2021 Morning Report
Pictor ready to roll out game-changing COVID antibody test in New Zealand
Scott Technology Limited (NZX: SCT) Announces FY21 Results
21st October 2021 Morning Report