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Macquarie to repay 45.02 cents in the dollar on Fortress notes

Investors in the NZDX-listed Macquarie New Zealand Fortress notes will be repaid 45.02 cents in the dollar on November 7.

Tuesday, October 18th 2011, 2:24PM

by Jenny Ruth

Macquarie pulled the plug on the $28.7 million of notes in August and sold the underlying portfolio after volatile markets badly eroded their value.

The notes were issued in May 2005 with an 11.5% coupon and were not due to mature until May next year.

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