Veritas faces D-Day after ANZ says banking facility won't be renewed

Tue, 29 Aug 2017

By Paul McBeth Aug. 29 (BusinessDesk) - Veritas Investments has to find $28.5 million in the next year or so after ANZ Bank New Zealand said it won't renew its banking facilities as they come due. The company's board is working through a number of options, including selling or merging its various units with external parties, recapitalising the business or refinancing the loans with a new lender, chairman Tim Cook said in a statement. The debt comes due in October and November of this year and through to September next year, and while...

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