Transfield joins list of firms settling tax dispute over convertible notes

Sun, 28 Dec 2014

By Paul McBeth Dec. 29 (BusinessDesk) - ASX-listed Transfield Services' New Zealand unit is the latest company to join a growing list of firms cutting deals with the Inland Revenue Department over the use of mandatory convertible notes, a popular way to finance trans-Tasman acquisitions in the 2000s. The New Zealand holding company, Transfield Services (New Zealand), settled its disputed treatment of the notes after June 30, and converted the remaining securities into ordinary shares in September, according to its financial statements lod...

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