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Some F&N bonds fail to get votes

Published Thu, Nov 14, 2013 · 10:00 PM
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THE vote fell through for higher rated coupons at the extraordinary resolution tabled at the meeting for the holders of the various bonds and notes held by F&N Treasury yesterday.

Specifically, the required quorum was not achieved at the meeting of the holders of the seven-year bonds last night; they hold an outstanding $80 million worth of 3.15 per cent bonds due 2018.

The extraordinary resolution for the five-year bonds on the other hand - $220.0 million worth of 2.48 per cent bonds due 2016 - was passed without amendment.

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