tmmonline.nz  |   landlords.co.nz        About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds

NZ's Financial Adviser News Centre

GR Logo
Last Article Uploaded: Saturday, December 7th, 8:03AM

Investments

rss
Latest Headlines

Rates Round Up

CBS looks to set up $100 mln securitisation programme; Fonterra capital notes interest rate resets; Irongate pays out bondholders after Bluestone injection; PropertyFinance Group to delist.

Sunday, July 18th 2010, 11:11AM

by Paul McBeth

CBS looks to set up $100 mln securitisation programme
Canterbury Building Society, which is investigating joining forces with Marac and Southern Cross Building Society to form a South Island bank, has flagged a $100 million securitisation programme as a way for it to diversify its funding.

CBS will sell residential loans to an entity called The Warehouse Trust, using its to sell different classes of debt notes to selected institutions.

Westpac will provide facilities for the securitisation programme to go ahead.

It will be the second launch of mortgage-backed securities in almost three years after NZF Group put out a programme in a May.

Fonterra capital notes interest rate resets
The interest rate on the Fonterra's capital notes has reset to 5.3% per annum from 4.83%. The rate resets on July 10, and has some $35 million of principal notes on issue.

Irongate pays out bondholders after Bluestone injection
Irongate Property, one of the last St Laurence-related companies left standing, has paid out $30 million to bondholders of its listed series one and two bonds after it secured $45 million in funding from Australia's Bluestone Group.

PropertyFinance Group to delist
PropertyFinance Group will delist on July 21 after the directors gave up in May and urged shareholders to send the firm into liquidation.

 

Paul is a staff writer for Good Returns based in Wellington.

« PSIS knocking on door of investment-grade credit ratingMarac merger with building societies could go ahead this year »

Special Offers

Commenting is closed

 

print

Printable version  

print

Email to a friend
Today's Best Bank Rates
Rabobank 5.25  
Based on a $50,000 deposit
More Rates »
News Bites
Latest Comments
  • Advisors must take note of supervisor guidelines on AML/CFT
    “When I read this, the following memory plucked a note. Venue was a US financial planning conference maybe 30 years ago. Speaker...”
    17 hours ago by Murray Weatherston
  • Partners kills its matrix
    “@Backstage, thanks. I agree there is no relationship to CoFI, though, from a service perspective, I have two other providers...”
    3 days ago by JPHale
  • Partners kills its matrix
    “Partners Life has decided to stop using its COM for advisers as it believes the system may breach the CoFI regulations which...”
    4 days ago by Amused
  • Partners kills its matrix
    “Insurance companies should stick to their lane. They are not advisers and even those that employ advisers should not be crossing...”
    4 days ago by Tash
  • [GRTV] The nitty gritty of Smart’s ETFs
    “Advisors should consider all gateways into investment markets including cheaply priced ETFs to provide access to low priced...”
    4 days ago by Pragmatic
Subscribe Now

Deposit Rates newsletter

Previous News

MORE NEWS»

Most Commented On
About Us  |  Advertise  |  Contact Us  |  Terms & Conditions  |  Privacy Policy  |  RSS Feeds  |  Letters  |  Archive  |  Toolbox  |  Disclaimer
 
Site by Web Developer and eyelovedesign.com