30 Sep 2010

Silver Fern to repay bonds early

6:10 am on 30 September 2010

Silver Fern Farms plans to repay its five-year bonds early.

The bonds were due to expire in December, but will now be repaid on 15 November.

The meat processor and exporter says it is running the business more efficiently and now requires less working capital, which has allowed it to repay debt and reduce interest costs.

Meanwhile, the company says it has a new banking syndicate involving Rabobank, HSBC, Westpac and CBA.