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 rating | Marac merger with building societies could go ahead this year » |
Special Offers
© Copyright 1997-2024 Tarawera Publishing Ltd. All Rights Reserved