NWF nz windfarms limited

Ann: GENERAL: NWF: Renewal of Bank of New Zealand Guarantee

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    • Release Date: 08/10/14 11:29
    • Summary: GENERAL: NWF: Renewal of Bank of New Zealand Guarantee
    • Price Sensitive: No
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    					NWF
    08/10/2014 11:29
    GENERAL
    
    REL: 1129 HRS NZ Windfarms Limited
    
    GENERAL: NWF: Renewal of Bank of New Zealand Guarantee
    
    NZX Announcement
    
    8 October 2014
    
    For Immediate Release
    
    RENEWAL OF BANK OF NEW ZEALAND GUARANTEE
    
    NZ Windfarms Limited ("NWF") advises that the Bank of New Zealand ("BNZ")
    guarantee in favour of Powerco Transmission Services Limited ("Powerco") for
    $11,072,000, as referred to on page 38 of the Annual Report for the year
    ended 30 June 2014, will be renewed for thirteen months from expiry of the
    existing guarantee to 30 November 2015.
    
    This guarantee is a requirement of the line services agreement with Powerco,
    and supports the obligations of NZWL - TRH Limited (a subsidiary of NWF)
    under that agreement.
    
    The guarantee is secured by way of existing security interests over the
    present and after-acquired property, of NWF and its subsidiaries, including
    first mortgages over the Group's land and a specific security interest over
    $6.5 million of cash deposited with BNZ.
    
    ENDS
    
    For further enquiries contact:
    
    Derek Eades
    Chief Financial Officer
    Ph (021) 936 353
    End CA:00256201 For:NWF    Type:GENERAL    Time:2014-10-08 11:29:34
    				
 
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