BRIEF-Emergent Capital announces supplement no. 1 to exchange offer
* Emergent Capital announces supplement no. 1 to exchange offer Source text for Eikon: Further company coverage:
WELLINGTON, March 15 New Zealand's Kiwibank said on Wednesday that it would not proceed with the settlement of an NZ$175 million ($121 million) bond because the Reserve Bank of New Zealand (RBNZ) had warned it might not meet capital adequacy requirements.
The state-owned bank said in a statement to the stock exchange it viewed the issue as technical and would not settle the bonds on March 15 as planned. It was working with the RBNZ, which regulates banks, to resolve the matter.
Kiwibank's head of funding, Geoff Martin, said in a stock exchange statement that the central bank's preliminary decision against the bonds would not affect its growth opportunities. ($1 = 1.4457 New Zealand dollars) (Reporting by Charlotte Greenfield; Editing by Ruth Pitchford)
RIO DE JANEIRO/BRASILIA, May 26 Maria Silvia Bastos resigned on Friday as head of Brazil's development bank BNDES amid a political crisis that had increased pressure against her by credit-starved business leaders.
RIO DE JANEIRO, May 26 The incoming head of Brazil's state development bank BNDES said on Friday he will not have a special focus on loans disbursed by the previous management.