INDEPENDENT NEWS

Fletcher Forests Foreign Exchange Hedge Closed

Published: Fri 16 Aug 2002 11:05 AM
Fletcher Challenge Forests Foreign Exchange Hedge Closed
AUCKLAND, 16 August 2002 – Fletcher Challenge Forests announced today that it has closed a foreign exchange contract that it had entered into, to hedge the proposed acquisition of the assets of the Central North Island Forest Partnership.
A gain of approximately $1.8 million was realised on this foreign exchange transaction, which will significantly offset the costs incurred in relation to the proposed transaction.
The hedge transaction was a cancellable forward exchange contract to purchase USD 250 million at a fixed USD/NZD exchange rate of 0.465. The option was exercisable on 30 August 2002 with settlement on 27 September 2002.
Ends

Next in Business, Science, and Tech

Motorists, MTI support ban on less safe car imports
By: RNZ
ANZ boss departs under cloud
By: RNZ
Plan to expand protection for Maui and Hector’s dolphins
By: New Zealand Government
Fish & Game back call from Canterbury Officer of Health
By: Fish and Game New Zealand
Consumers confused by car safety ban proposals
By: Suzuki
Banning unsafe cars may not improve safety
By: Dog And Lemon Guide
Hisco ANZ departure becomes permanent amid expense concerns
By: BusinessDesk
Dolphin toxoplasmosis vs trawling risk starts scat spat
By: RNZ
Dolphin protection plan – Expert Reaction
By: Science Media Centre
Statement on Hector and Maui Threat Management proposals
By: Seafood New Zealand
NZ demands change to save Maui dolphin
By: Forest And Bird
Māui and Hector’s dolphin proposals not fit for crisis
By: Greenpeace New Zealand
Hector’s and Maui Dolphin Threat Plan Action needs more work
By: Environment and Conservation Organisations of NZ
Growing risk of nitrate contamination private water supplies
By: Water New Zealand
View as: DESKTOP | MOBILEWe're in BETA! Send Feedback © Scoop Media