Allied repays loan facility

Allied Farmers managing director Rob Alloway. Photo / Dean Purcell

Allied Farmers has repaid its term loan facility with Westpac New Zealand and reorganised its lending arrangements with its failed subsidiary Allied Nationwide Finance.

Managing director Rob Alloway said the repayment of the Westpac term loan facility and a reduction in the company's overdraft facility to $250,000 from $2.5 million was a milestone for the company.