Allied Farmers chairman props up life-saving $600k Allied Farmers bond issue

Fri, 13 Sep 2013

By Paul McBeth Sept. 13 (BusinessDesk) - Allied Farmers, which is slowly rebuilding from a disastrous takeover of the Hanover and United Finance loan books, has staved off insolvency after raising $600,000 in a bond issue, almost half of which was bought by interests associated with the chairman Gary Bluett. The Hawera-based company’s Allied Farmers Rural subsidiary raised the debt, with $250,000 coming from chairman Gary Bluett and an associated person, to fund a repayment plan with the Inland Revenue Department over a $4.2 million unpaid...

Use the information you’ve already given Google to create your subscription.

Not convinced yet?

Subscribe to our Daily News Update free newsletter.

Markets
MARKET CLOSE: Shares bounce on big banks boost
Dan Brunskill | Fri, 25 Sep 2020

Financial stocks led the market higher as the Australian government rolls back responsible lending rules. 

Election 2020
Jones' last precious PGF drops
Brent Melville | Fri, 25 Sep 2020

Reefton Distilling Co gets $1 million from the Provincial Growth Fund as minister Shane Jones squeezes the last few drops from the vehicle before the election. 

Listed Companies
Air NZ signals June 2021 capital raising
Victoria Young | Fri, 25 Sep 2020

Air NZ has already started drawing down from $900 million government loan facility.

Partner Content
The whole story behind good investment decisions

If there was ever a time when strong financial metrics were the single trademark of a good company, that time has long passed. Responsible investors need to know beyond the profit a company will generate this year or next.

Sponsored
Canon Business: Premium solutions for Commercial Bay

Precinct Properties is the largest owner and developer of premium inner-city business space in Auckland and Wellington, its latest flagship success is the transformational Commercial Bay on Auckland's waterfront. Canon knew that for such a high-calibre client, only a premium bespoke purpose-built solution would suffice when it came to providing market-leading print, mail and courier services to over 10,000 tenants in the development.