- Release Date: 09/05/13 16:10
- Summary: GENERAL: GFL: Geneva Sep 13 Scheduled repayments paid ahead of schedule
- Price Sensitive: No
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GFL 09/05/2013 14:10 GENERAL REL: 1410 HRS GFNZ Group Limited GENERAL: GFL: Geneva Sep 13 Scheduled repayments paid ahead of schedule Media Release 9 May 2013 GENEVA FINANCE ANNOUNCES ITS 30 SEPTEMBER 2013 MORATORIUM REPAYMENT TO INVESTORS WAS PAID ON 8 MAY 2013 APPROXIMATELY FIVE MONTHS AHEAD OF SCHEDULE. NZAX-listed auto loan provider GFNZ Group Ltd (Geneva) announced that the moratorium repayment of $4.9 million due on 30 September 2013, was paid on 8 May 2013, twenty two weeks ahead of schedule. This maintains Geneva's record of early repayment, following the early repayments of the September 2010, March 2011, September 2011, March 2012, September 2012 and March 2013 scheduled debenture principal repayments. This repayment is being made under resolution 1.4(b) of the interest bearing repayment plan to repay moratorium debenture holders and BOS International (Australia) Limited early, either in full or in part on a pro rata basis. Inclusive of this payment, Geneva Finance has repaid in excess of $144 million of investor principal and interest payments since the company entered moratorium in November 2007 owing a net $132.4 million to investors. These repayments are inclusive of interest payments to investors (including the company's bankers) of $41.1 million, at a weighted average interest rate of 10.5%, and principal repayments to public debenture holders totaling $73.1 million. ends About Geneva Geneva is a New Zealand-owned finance company that provides finance and financial services to the consumer credit and small to medium business markets. Geneva commenced business on 7 October 2002. Geneva's loans are originated through three distribution channels (Direct, Broker and Dealer), processed by the central sales desk then administered through a national operations centre located at Mt Wellington, Auckland. The company borrows money by the issue of debenture stock. It also has a banking facility with BOS International (Australia) Limited. Geneva (GFL) is listed on the NZAX. There are 280,872,249 issued shares held by 2,615 investors. About Federal Pacific FedPac's operations throughout the Pacific region include investments in Banking, Personal and Business Finance, Money Transfer and Foreign Exchange Trading. The company was incorporated in 1993 and is based in Auckland, New Zealand. Alexander Communications Kate Alexander +64 (0)27 244 6094 [email protected] For further inf End CA:00236033 For:GFL Type:GENERAL Time:2013-05-09 14:10:28
Ann: GENERAL: GFL: Geneva Sep 13 Scheduled repaym
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