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- Release Date: 09/05/13 16:10
- Summary: GENERAL: GFL: Geneva Sep 13 Scheduled repayments paid ahead of schedule
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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
(20min delay)