South Canterbury Finance has registered a new prospectus to raise money.
The Timaru-based company says investors can earn up to 8% per year and enjoys the support of the Government's deposit guarantee scheme.
The company recently reached agreement with US investors to repay $US100 million over the next five and a half months and has a new $US75 million facility to replace the $US100 million standby facility.
But commentators say an impending capital raising will still be needed to make sure South Canterbury has the liquidity it needs to remain solvent.
