Rates round up
Hawkins' Cynotech eyeing up Unlisted; Marac confirms GMAC purchase; NZF renews facility; Shareholders' Association mulls looking into debt markets; SCF listed bond yields edge down.
Monday, August 2nd 2010, 5:48AM
Hawkins' Cynotech eyeing up Unlisted
Allan Hawkins is looking at taking minnow finance company Cynotech Holdings off the NZX and on to another exchange.
The firm also delayed releasing its year end accounts due to a delay with its audit.
Marac confirms GMAC purchase
Marac has confirmed it will buy GMAC New Zealand's motor vehicle financing book for $70 million after a month of due diligence.
The book was worth some $120 million as at December 31, according to GMAC's financial statements, with $2.2 million provided for bad debts.
NZF renews facility
NZF Group has renewed its $225 million warehouse facility with Westpac until October 18 next year.
Shareholders' Association mulls looking into debt markets
New Shareholders' Association chairman John Hawkins is mulling spending some effort into looking at the debt market, particularly securities issued by public companies.
SCF listed bond yields edge down
The buy yield on South Canterbury Finance's listed bonds that mature after the government's deposit guarantee edged down to 24% from 25% a week earlier in a week where the ailing finance company kept its head below water. The securities have been popular with speculative investors over the past few weeks who have a perverse incentive in that they will benefit if the company falls over and the government has to stump up its guarantee.
| « Wrightson Finance fails to get quorum to extend bonds | Receiver flags Strategic Finance property deals for this week » |
Special Offers
Commenting is closed
|
|
Printable version |
|
Email to a friend |
