Hellaby completes $50m capital notes issue

Hellaby Holdings has completed its $50 million capital notes issue and the full amount had been received, the company said yesterday. The funds would initially be used to reduce debt, and to fund new acquisitions in the longer term.

The company, which owns nine companies including the Hannahs, Number 1 Shoe Warehouse and Hush Puppy footwear chains, The BBQ Factory, Brake & Transmission New Zealand and Diesel Distributors, has indicated its next purchase would be in line with its more industrial origins.