Another eventful day for MFS Australia
MFS's parent company had another eventful day yesterday with the resignation of its chief executive, and the end of a takeover bid.
Tuesday, January 22nd 2008, 7:16AM
A key selling point for MFS New Zealand is the put option, which if exercised, means that MFS Australia has to buy any bad loans.
This put option has not been used.
MFS New Zealand has been backed by MFS Australia, reportedly with funding of around $150 million, also it had invested money into some MFS Australia trusts.
MFS New Zealand has around $300 million of debentures on issue in New Zealand and around $80 million are due to mature in the first three months of this year.
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