CK Hutchison remains among biggest creditors of Wellington Electricity as loans refinanced

Mon, 09 Apr 2018

By Jonathan Underhill April 9 (BusinessDesk) - CK Hutchison remained the second-largest creditor of Wellington Electricity Distribution Network after the power utility in New Zealand's capital refinanced $230 million of bank loans, its 2017 accounts show. Wellington Electricity's loan from related party International Infrastructure Services Co was unchanged at about $235 million. It pays 8.75 percent interest on the loan that comes due in 2023, amounting to $22.7 million in interest in calendar 2017. That's above the average interest rate...

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