After repaying millions of bondholder, South Canterbury Finance (SCF) is expected to pay back its 30,000 debentures by sometime next week.

SCF has already paid 350 million to its bondholders. The Trustee Executors have said, on the behalf of the shareholders, that they will be paying back which is under the Retail Deposit Guarantee Scheme.

Regional manager for Trustee Executor, Yogesh Mody had said that when SCF was ready with its full receivership then the trustees would work for repayment. And the process will get over within a period of six to eight weeks.

The trustees have been working with SCF for migration of the debentures and deposit registry to Computershare Investor Services.

Auditing of the accounts is also going side by side and the audits is said to be in their last stage. Mody said that repayment of the debentures and deposit holders will be done by the next week. 

While SCF is liable to pay $350 million to the bondholders, it has to pay the investors close to $ 1.6 billion for debt securities.

The trustees are holding money on behalf of 350,000 investors.