Spark New Zealand (NZE:SPK, ASX:SPK) will sell eligible receivables from existing interest free payment (IFP) customers to Challenger (ASX:CGF) for bout NZ$240 million, according to a Monday filing with the Australian and New Zealand bourses.
The proceeds will reduce net debt in the first half of fiscal 2026, the filing said.
The company will continue to collect repayments from its mobile customers directly, and also agreed to sell future IFP receivables on a regular basis to Challenger, the filing added.
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