rnz.co.nz·3 min read·medium
Government cashes in Chorus fibre loans early for $702m
R
RNZ | Te Reo Irirangi o Aotearoa
✦AI Summary
The New Zealand government has reached an agreement to sell its interest-free loans to Chorus, the telecommunications infrastructure company, for $702 million. This move allows the government to realize a $60 million gain over the book value and provides immediate capital for infrastructure projects.
The Government has announced binding agreements to monetise the value of it's interest-free loans made to Chorus to help fund the Ultra-Fast Broadband rollout.
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