sharetrader
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  1. #1
    Member
    Join Date
    May 2003
    Location
    Wellington, , New Zealand.
    Posts
    103

    Thumbs up Pyne Gould Wrightson Fiance PWF030

    Issuer has called a meeting of bond holders to approve extension of PWF030 under the Govt gtee.

    Seems that a meeting is nesessary as extended govt gtee reduces amount covered from $1milion to $250K.

    But an extension of the maturity by one year at 8.25% if covered by GG seems like a great deal so I would exhort everyone to vote for the change.

    Any disagreement?
    Last edited by Dubdee; 20-07-2010 at 08:26 AM.
    Success is the ability to go from one failure to another with no loss of enthusiasm

  2. #2
    Senior Member
    Join Date
    Jun 2004
    Location
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    1,045

    Default

    The meeting is to amend the terms of the Trust Deed to allow the rollover at the discretion of the company.

    The Crown has significantly modified the 2011 retail deposit terms - therefore changes to the Trust Deed are necessary as the existing roll over clause was predicated on no substantive difference between the Crown 2010 and 2011 terms.

    I don't own and haven't studied the Trust Deed. On first sight - it looks like an attractive proposition. Get the Trust Deed and check the detail.
    Do not consider my postings as investment advice. I am here to share research and to speculate on what might be. The boundary between fact and conjecture might not always be clear - best to treat all comments as speculation.

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