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St Laurence gets its $50 mill, 10 for 10 campaign launched.

Thursday, April 6th 2006, 7:42AM
St Laurence gets its $50 mill
St Laurence Property & Finance has closed its offer of listed bonds fully subscribed The offer raised $50 million in total comprising the initial amount of $25 million plus over-subscriptions of a further $25 million.

The bonds offer a fixed rate of 9.25% with a term of just over five years, maturing on May 15, 2011.

"This bond offer is part of our ongoing funding programme and, being fully subscribed, adds strength to our balance sheet,” chief executive John Mallon says. “We will be using the proceeds to repay some existing debentures due to mature over the next few months as well as funding further investment opportunities.”

This is the second offer of NZDX listed bonds that SLP&F has made to the market, with a $30 million Bond issue undertaken in early 2005.

Ten for 10

MFS Pacific has launched a “10% for 10 months” campaign similar to one it ran last year.

The offer is only open for 10 weeks and will close early if its funding target of $40 million is met before June 6.

The investment is secured first ranking debenture stock in either Australian or New Zealand dollars.

Interest is paid quarterly and can be compounded or paid into a nominated bank account in the currency in which you are invested.

MFS Pacific is a subsidiary of MFS Limited, an ASX-300 listed company with a market capitalisation of more than A$800 million.

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