11 Jul 2010

Extension of bond maturity date sought

7:47 am on 11 July 2010

PGG Wrightson wants to extend the maturity date on $100 million worth of bonds.

The rural services company, which is covered by the Government's extended retail deposit guarantee, wants to extend the bonds from early October this year, to early October next year.

PGG says the original conditions of the bonds permit it to extend the term, if the Crown guarantee was also extended.

Bondholders will vote on the extension at a meeting on 28 July.