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Hellaby Holdings redeems notes early

Contributor:
Fuseworks Media
Fuseworks Media

Wellington, Oct 11 NZPA - Investment company Hellaby Holdings Ltd is redeeming $50 million of capital notes due to mature in June 2011 early.

The company said early cash redemption is permitted under the company's trust deed.

The company was redeeming the capital notes early to take advantage of lower interest rates available through its core bank debt, said chief financial officer Richard Jolly.

The capital notes pay a fixed coupon rate of 8.5 percent per annum quarterly in arrears.

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