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UDC vote approves trust deed change

UDC Finance debenture holders have voted to pass a special resolution to change the company's trust deed, clearing the way for sale.

Wednesday, June 21st, 7:33PM

The amendment requires UDC to repay secured investments if a sale to HNA is successful.

It allows UDC to repay the secured investments at any time.

“Amending the trust deed is a significant step in preparing UDC for the sale to HNA Group," said chief executive Wayne Percival.

“Historically our trust deed has not allowed UDC to secure other sources of funding, or to initiate early repayment of secured investments...MORE»

NZCU Baywide offering high interest and flexible term deposit options

Tuesday, June 20th, 4:55PM

The new term deposit is believed to have one of the best combinations of high interest and flexibility from any rated New Zealand credit union or bank.

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UDC: On track for sale

Tuesday, June 6th, 7:21PM

UDC Finance says its half-year profit of $30.2 million positions it well for new ownership.

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Previous News

FMT ticks over $500m in investments

Thursday, May 4th, 8:10AM

While banks clamp down on lending and restrictions tighten for investors, one non-bank lender has more money to offer than ever.

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Shareholders chip in

Monday, April 10th, 6:00AM

Kiwibank has had to go to its new shareholders for more money.

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UDC gets downgraded on sale news

Thursday, January 12th, 10:23AM

UDC has had its credit rating down-graded following ANZ's announcement it plans to sell the business to a private Chinese conglomerate, and questions are raised about the future of the finance company.

MORE»

ANZ sells UDC Finance

Wednesday, January 11th, 11:21AM

ANZ Bank New Zealand  has agreed to sell its asset finance business, UDC Finance, for $660 million to HNA Group.

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BNZ offers 4% term deposit rate

Monday, November 21st, 9:58AM

BNZ has introduced a two-year deposit rate special of 4%.

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Heartland Bank 2.75  
Based on a $50,000 deposit
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    “@Denis You must have a different decision than me. In my copy 1. XYZ said the UK end was out of scope. That is, the answer...”
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    “@murrayweatherston - my issue is not with the process. It's that the position with the "UK end" part of the transfer (i.e....”
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