New capital bond issue
Friday, August 22nd 2003, 6:40AM
The bonds will offer interest rates ranging from 8.95%to 9.35% for terms of three-five years. There are three maturities being offered: 36 months 8.95%, 48 months 9.35%, and 60 months 9.35%.
The minimum investment is $1,000, with rate quoted per annum and subject to change.
Elders Finance chairman Mark Hotchin said the bonds are being offered in response to demand from existing investors.
"We are experiencing strong demand for securities that offer a competitive rate of return, and we are able to give investors the opportunity to contribute to the growth of Elders Finance," Hotchin said.
Elders Finance, which is owned by Hanover Group Ltd, is facing increased demand for financial services from a wide range of New Zealand's growing industries. Elders Finance recently reported a record $19.6 million after tax operating profit for the 2003 financial year. Total assets increased nearly 18% to $578.5 million while total operating revenue was up more than 27% to $73.5 million.
Elders provides finance to a range of industries including agriculture, forestry and fishing, accommodation, tourism, health, retail and consumer, commercial and residential property development and investment, and financial and insurance.
To see what else what else is on offer to investors go to the Deposit Rates page HERE
| « News Round Up | Sovereign takes regulation bull by the horns » |
Special Offers
Commenting is closed
|
|
Printable version |
|
Email to a friend |
