www.interest.co.nz Geneva Finance has a capital reconstruction and extended debt repayment plan that will see the more than 4,000 investors convert 15% of their debt into equity NZ8 million in the Peter Francis proposed controlled companies. The investors would be repaid the remaining 85% over the next four and a half years. The plan is dependent on existing shareholders, including Peter Francis of Chase Corp. fame, stumping up NZ.439 in fresh capital. Geneva is also negotiating with an unnamed structured finance and securitization house to another to borrow NZ million of financing. “This program would expand its lending business in Geneva to return closer to the levels experienced prior to the moratorium, the company and reduce dependence on historical debt for the financing,” Geneva said in a statement. Under the plan, the Bank of Scotland would agree to an NL million loan due on 30 To convert into a three-year bond april expire with NZ million repaid over the next five months. Bondholders would agree to 15% of their investments in equity in Geneva, which would be listed on the NZAX convert. Note holders would convert 85% of their investments in equity. Geneva has a vote on the plan on 28 April proposed.
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