ALF
20/01/2016 12:41
GENERAL
NOT PRICE SENSITIVE
REL: 1241 HRS Allied Farmers Limited
GENERAL: ALF: Alllied Farmers Limited Subsidiary Refinances Term Loan
Allied Farmers Ltd ("ALF") advises that ANZ Bank has refinanced NZ Farmers
Livestock Ltd.'s ("NZFL") second mortgage.
NZFL is a subsidiary of ALF. When NZFL acquired a number of saleyards from
ALF in 2013 a $700,000 loan was established with a related party to help fund
the purchase, secured by a second mortgage. The ANZ refinancing fully repays
the related party loan and eliminates the second mortgage.
Improved overdraft facilities since mid-2015 have supported significant
growth and cost reduction within the NZFL group.
Chairman Garry Bluett said that as interest costs decrease in relation to
these changes there has been a significant reduction in the cost of funds for
NZFL.
Garry Bluett
Chairman
End CA:00276619 For:ALF Type:GENERAL Time:2016-01-20 12:41:30
