Finance Minister, Nicola Willis, has confirmed the Crown has entered into binding agreements to monetise the debt it holds in telecommunications lines company, Chorus.
The Government announced in December last year its decision to progress the early monetisation of interest-free loans provided to Chorus between 2012 and 2023 to help accelerate the rollout of fibre broadband across New Zealand. These loans had a book value of $642 million.
“The fibre rollout is now complete and has delivered enormous benefits for New Zealanders, with most people now able to connect seamlessly with family, friends and colleagues across the country and around the world,” said Ms Willis.
“Rather than waiting until 2036 to be fully repaid…