Excess of interest in Montana capital notes

The company says it has received commitments for all $75 million of the notes reserved for firm allocation by NZSE member clients. It has also received an excess of applications from the public pool to take up another $50 million of the notes, including over-subscriptions of $25 million.

Montana is using the capital notes issue to fund the purchase of Corbans.

At the company's AGM on Friday shareholders approved a special resolution to provide the group's bankers with guarantees that enabled the acquisition of Corbans to be completed that day.

Montana is expected to make a further announcement on the notes issue tomorrow.

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