NZAI executes new finance facility
New Zealand Automotive
Investments Limited
102 Mays Road,
Onehunga,
Auckland, 1061
info@nzautomotiveinvestments.co.nz
nzautomotiveinvestments.co.nz
01 June 2023
Market Update
NZX:NZA
NZAI executes new finance facility
NZ Automotive Investments Limited (NZAI or the Company) (NZX:NZA) is pleased to advise it has
executed a new, lower cost trade finance facility with Finance Now.
Finance Now, with whom 2 Cheap Cars has enjoyed a long-term strategic partnership, is providing a
NZD$5.0m trade finance facility, replacing NZAI’s current arrangement with ASB.
CEO Paul Millward said the new arrangement is a win win – leveraging an already strong relationship
and providing 2 Cheap Cars access to working capital finance at a lower rate.
“We are delighted to be extending our partnership with Finance Now who have provided finance solutions
to our customers for over nine years. The Finance Now team understands and actively supports our
business, and we can confidently plan ahead knowing we have access to very well-priced capital,” he
said.
[ends]
This announcement has been authorised by the NZAI Board Chair, Michael Stiassny.
For further information please contact:
Paul Millward
CEO
NZ Automotive Investments Limited
Mobile : +64 27 448 6458
Email: paul.m@nzautomotiveinvestments.co.nz
About NZ Automotive Investments Limited (NZAI)
NZAI is an integrated automotive group operating throughout New Zealand via two subsidiaries: Automotive Retail and Vehicle
Finance. NZAI’s mission is to deliver quality cars and financing solutions at the most affordable prices to the average New
Zealander. Operating under the “2 Cheap Cars” brand, its Automotive Retail company is one of the largest used vehicle sellers in
New Zealand with 13 dealerships across the country. Its Vehicle Finance company operates under the “NZ Motor Finance” brand.
www.nzautomotiveinvestments.co.nz
Data sourced from publicly available filings. Our datasets may not be complete. Automated analysis can produce errors. If you believe any data on this page is incorrect, please contact us at hello@nzxplorer.co.nz. For informational purposes only. Not investment advice.
Other issuers discussed similar conditions around this time
Matched by meaning across NZX announcement text, not keywords — based on our semantic index of announcement bodies.
- CHI — Channel Infrastructure NZ Limited: Notice of Financial Assistance – Employee Share Scheme2023-04-17
“channelnz.com Nature of financial assistance The financial assistance was given in the form of (a) an advance of NZ$90,170 to the Trustee to acquire the Shares for employees, which is then paid back to the Company as subscription funds for the shares; and (b) approximately…”
- AIA — Auckland International Airport Limited: AIAL – Capital Change Notice2023-05-18
“Capital Change Notice Section 1: Issuer information Name of issuer Auckland International Airport Limited NZX ticker code AIA260 Class of financial product Fixed Rate Bonds ISIN (If unknown, check on NZX website) NZAIAD0260L7 Currency NZ$ Section 2: Capital change…”
- TRA — Turners Automotive Group: NZX Virtual Investor Event – Turners Presentation2023-05-09
“20• NZX VIRTUAL INVESTOR EVENT -TURNERS AUTO GROUP Creditmanagement •Consumer arrears are on the increase to 11.8% of the credit active population (11.3% in Mar-22) •Debt load up for EC Credit Control in FY23 v FY22 and expecting this to gather pace as economic conditions det…”