Wed, 04 Aug 2004
TOWER advises that it has fully repaid all of its senior debt, two years early. The facilities repaid were NZ$28,280,542.99 Revolving Cash Advance Facility and its A$45,000,000 Bank Accepted Bills Facility. The repayment was made from the proceeds of TOWER Finance Limited’s recent Capital Notes issue.
Following this repayment, TOWER’s capital structure comprises shareholders’ funds of NZ$796m and subordinated Debt NZ$200m.
Back to Announcement Archives 2004