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Pinnacle Technology R250m bond pursued to fund Centrafin

March 7 2013 at 08:00am

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Pinnacle Technology was pursuing the possibility of issuing a corporate bond to raise about R250 million, depending on market conditions, the computer and networking equipment supplier advised shareholders yesterday. It said the proceeds of such a bond would replace the existing short-term funding of the fast growing finance lease book in financial services subsidiary Centrafin, and to fund future growth of that book. In interim results released after markets closed, Pinnacle reported a 14.1 percent rise in revenue to R3.1 billion. Shares rose 0.35 percent to R20.20 yesterday. – Staff Reporter


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