Rank seeks to buy SIG bonds

New Zealand's Rank Group is tendering for the bonds of Swiss packaging group SIG, which it is taking over.

Rank will pay 101 per cent of face value for the 150 million Swiss franc 4.625 per cent notes due in August, 102.50 for the 100 million Swiss franc 4.375 per cent notes due in July 2008, and 101 for the 150 million Swiss franc 2.125 per cent notes due in October 2011.