FRS13 standard proves lucky for Minerva debt

By James Whitmore, James Whitmore8 October 1999

Chief executive Andrew Rosenfeld revealed this week that the value of Minerva’s debt is actually less than the actual debt, and this would increase net asset value by 1.3p a share. The average cost of Minerva’s fixed-rate debt, which accounts for 98% of total borrowings, is 7.5% a year.

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