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

 

Further Issue Of Bridgecorp Capital Notes


Further Issue Of Bridgecorp Capital Notes

Specialist financier, Bridgecorp Holdings Ltd, is going to the market for $20 million worth of Capital Notes.

The two-year tranche (maturing December 2004) will pay interest of 11.5%, while a three-year tranche (maturing in December 2005) will pay 12%. This follows a successful earlier series of Note issues, begun in 2000, raising almost $23 million. Of that amount, $9 million matured in October this year and has been repaid.

The additional capital raised by the issue will enable Bridgecorp to continue to grow its finance book particularly in New Zealand. The company continues to experience significant demand for loan monies and does not see this trend diminishing.

Managing director, Rod Petricevic said Bridgecorp had moved away from property investment as part of its core business and focused instead on mortgage lending, and had now become a significant player in the New Zealand finance market.

The company’s activity centred on short-term lending, secured over land and buildings and its lending book now exceeded $300 million, Mr Petricevic said.

“This further capital notes issue offers investors an attractive return from associating with a company which had used its specialist expertise to establish a solid track record of growth and sustainability.”

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Seeking 'Clarity': Crown To Appeal Southern Response Decision, Offers Costs

“It is our intention that the clarity that will come from the outcome of these proceedings will enable the Crown to work with Southern Response to provide a soundly based proactive solution to those people that are affected.” More>>

Thinking Of The Children: Plan For Classification For Commercial Video On Demand

Classifying on-demand video content will be made mandatory to bring it in line with other media and provide better guidance and protections to families and young people, says Internal Affairs Minister Tracey Martin. More>>

Cheques Out: Inland Revenue And ACC Push For Paperless

Inland Revenue and the Accident Compensation Corporation are calling ‘time’ on cheques. From March next year, IR and ACC will no longer accept payments by cheque from customers who are able to use alternative payment options. More>>

ALSO:

"Vision And Growth": Capital Markets 2029 Report

Broader participation by New Zealanders, greater access to growth capital for New Zealand enterprises, and more choices for investors drive the recommendations in the Capital Markets 2029 report released today. More>>

ALSO:

Forest & Bird: Call For More Funding To Stop Plague Of Wallabies

Wallabies could spread over a third of New Zealand within the next 50 years, unless control is increased dramatically, says Forest & Bird central North Island regional manager Rebecca Stirnemann. More>>

ALSO: