Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Bridgecorp Notes Issue Already Over-Subscribed

February 26, 2001

A $10 million capital notes issue from Auckland financier and investment banker Bridgecorp Holdings Limited has been over-subscribed and is being extended till the end of March.

The pre-Christmas issue was made in two equal tranches of $5 million, one with an initial term maturing in October 2002 and the second maturing in December 2003. Provision was made for over-subscriptions of $5 million in each tranche.

Managing director, Rod Petricevic said the support from investors was extremely heartening. As a response to requests from brokers and their clients, the issue would now stay open till March 31 or when $20 million was raised, whichever came first.

The additional capital raised by the issue would enable Bridgecorp to further grow its finance book, he said. The company now has assets in excess of $200 million.

Following last October’s agreement with Lloyds of London for insurance cover of Bridgecorp’s new mortgages, a large percentage of the mortgage book was now covered.

“We have reached this target much sooner than planned,” he said. “This cover substantially derisks the loan portfolio and gives us further potential for growth.”

All brokers had been advised of the new closure date for the capital notes issue.

….ends/


© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

57 Million Users' Data: Uber Breach "Utterly Preventatable"

Cybersecurity leader Centrify says the Uber data breach of 57 million customer and driver records - which the ride-hailing company hid for more than a year - was “utterly preventable”. More>>

Scoop 3.0: How You Can Help Scoop’s Evolution

We have big plans for 2018 as we look to expand our public interest journalism coverage, upgrade our publishing infrastructure and offer even more valuable business tools to commercial users of Scoop. More>>

Having A Cow? Dairy Product Prices Slide For Fourth Straight Auction

Dairy product prices fell at the Global Dairy Trade auction, retreating for the fourth straight auction amid signs of increased production... Whole milk powder fell 2.7 percent to US$2,778 a tonne. More>>

ALSO:

Statistics: Butter At Record $5.67/Block; High Vegetable Prices

Rising dairy prices have pushed food prices up 2.7 percent in the year to October 2017, Stats NZ said today. This followed a 3.0 percent increase in the year to September 2017. More>>

ALSO:

Science: New Research Finds Herbicides Cause Antibiotic Resistance

New University of Canterbury research confirms that the active ingredients of the commonly used herbicides, RoundUp, Kamba and 2,4-D (glyphosate, dicamba and 2,4-D, respectively), each alone cause antibiotic resistance at concentrations well below label application rates. More>>

ALSO:

CO2 And Water: Fonterra (And Dairy NZ)'s Environment Plans

Federated Farmers support Fonterra’s bold push to get to zero emissions of CO2 on the manufacturing side of the Co-operative, both in New Zealand and across its global network. More>>

ALSO: