The New Zealand wine producer Delegat's Group Ltd is planning a capital notes sale, which it hopes will raise NZ$35m. The money will be used to help finance a share issue next year.

The company hopes to conduct a NZ$40m share issue in mid-2005s to finance international growth.

Funds from the notes sale are needed to cover the NZ$3.4m cost of the issue.

The money will also be used to retire bank debt so new loans can be extended for the construction of a winery in Marlborough, preliminary expenses from a Hawke's Bay winery, and working capital.