- Release Date: 08/10/14 11:29
- Summary: GENERAL: NWF: Renewal of Bank of New Zealand Guarantee
- Price Sensitive: No
- Download Document 1.13KB
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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