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

 

Bridgecorp Notes Issue Closes Over-Subscribed

A $10 million capital notes issue from Auckland financier and investment banker Bridgecorp Holdings Limited has been closed over-subscribed at $19.5 million.

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 nationwide was extremely heartening. 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 with the total book expected to be covered by August.

….ends/




© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Tax Bill Passes, Drops: “An End To Unnecessary Secondary Tax”

“The changes mean Inland Revenue will more closely monitor the tax paid by wage and salary earners through the year. If it appears the worker is being over taxed, Inland Revenue will suggest a more suitable PAYE tax code tailored to that worker.” More>>

ALSO:

Ethiopian Airline Crash: Boeing 737 Max Aircraft Operations Temporarily Suspended

New Zealand’s Civil Aviation Authority has suspended the operation of Boeing 737 MAX aircraft to or from New Zealand. Currently this affects only one operator, Fiji Airways. There are no other airlines that fly this aircraft type to New Zealand. More>>

ALSO:

Sorting Out DNA: Crime-Busting Software Wins Top Science Prize

Software developed in New Zealand that has contributed to identifying suspects in tens of thousands of criminal cases around the world has won the 2018 Prime Minister’s $500,000 Science Prize. More>>

ALSO:

In The High Court: IRD Wins Tax Avoidance Case

Inland Revenue has won a High Court case against Eric Watson’s Cullen Group over a nearly $52 million tax debt. More>>

ALSO:

Insurers Withdraw From Market: Plea For EQC Rethink

A consumer watchdog wants the government to rethink the Earthquake Commission (EQC) as more people are pushed out of getting property and contents insurance. More>>

ALSO:

Women's Day: New Zealand Rated Third Best In OECD For Working Women

New Zealand has been rated among the top countries in the world for working women. The Women in Work Index rated New Zealand third in the OECD and it was the only country outside Europe to make the top 10. More>>

ALSO: