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Hellaby Heads for Biggest Gain in Two Month as Bank Debt Reduced

Hellaby Holdings Ltd., a New Zealand investor in auto parts, packaging and footwear retailing, is headed for its biggest gain in two months in Wellington trading after it said core bank debt fell 51 percent to NZ$25 million at June 30 from a year earlier.

Hellaby will redeem NZ$50 million of notes due in June next year for cash or new bonds, and won’t convert then into shares, the Auckland-based company said in a statement sent to the stock

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