Geneva announces early payment
Geneva Finance’s moratorium repayment of $4.9 million, due on September 30, will be paid on May 8, 22 weeks ahead of schedule, the NZAX-listed vehicle loan provider said.
Friday, May 3rd 2013, 6:00AM 
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The September 2010, March 2011, September 2011, March 2012 , September 2012 and March 2013 scheduled debenture principal repayments were also all paid early.
Including this payment, Geneva has repaid more than $144 million of investor principal and interest payments since the company entered moratorium in November 2007, owing $132.4 million to investors.
Geneva says it has paid $41.1 million in interest at a weighted average interest rate of 10.5%, and principal repayments to public debenture holders totalling $73.1 million.
It has raised funding through two rounds of equity raising and the sale and lease back of the group’s head office, among other initiatives.
Managing director David O’Connell said the firm was operating in a difficult financial environment and it was pleasing to be ahead of schedule.
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