South Canterbury offer oversubscribed

South Canterbury Finance has accepted oversubscriptions for the maximum additional amount of $50 million for its secured bonds offer.

The decision was due to widespread support for the offer and took the size of the offer up to $125m, the company said today.

Chief financial officer Graeme Brown said South Canterbury had so far already secured firm and reserved allocation commitments for more than $75m.

Forsyth Barr Ltd has been appointed lead manager and organising participant to the offer, while Forsyth Barr Group Ltd has underwritten the offer to $75m.

- NZPA