Articles tagged with 'UDC'

ANZ completes UDC sale

1 September 2020 - ANZ has completed the sale of vehicle and asset finance business UDC Finance to Shinsei Bank following Overseas Investment Office (OIO) approval.

ANZ sells UDC – again

2 June 2020 - ANZ has agreed to sell its asset finance business, UDC Finance Limited (UDC), for $762 million to Shinsei Bank, a higher price than that of the blocked 2017 sale to HNA.

UDC debenture programme all paid out

21 December 2019 - ANZ-owned finance company has completed the closure of its debenture programme. The bank says election packs were sent to around 4,500 debenture holders...

S&P's latest verdict on UDC

23 September 2019 - UDC has had its credit rating increased from BBB to 'BBB+ and its outlook is recorded as stable. S&P says the upgrade reflects UDC's improved...

UDC profit lifts

28 June 2019 - UDC Finance has made a strong start to the financial year, reporting a net profit after tax of $34.7 million for the six months to  March 31, 2019.

Record profit for UDC

12 December 2018 - UDC Finance has posted a record net profit after-tax of $65.3 million for the year to September 30, a 6% increase on the prior financial year.

ANZ not pursuing UDC IPO

31 October 2018 - ANZ will not pursue an initial public offering (IPO) of UDC Finance.

UDC posts profit

21 June 2018 - UDC Finance has posted a first half-year net profit after tax of $32.7 million, an increase of 8%, on the same period from the previous financial year...

UDC IPO considered

20 March 2018 - ANZ is reported considering an IPO for UDC Finance after its sale to HNA Group was scuppered by the Overseas Investment Office. Chief executive David Hisco...

ANZ plan to sell UDC Finance stalled

21 December 2017 - The Overseas Investment Office has rejected an application from China-based HNA to buy UDC Finance, from ANZ for $660 million.

Debenture funding down at UDC

5 December 2017 - UDC Finance has posted a record net profit after-tax of $61.6 million for the year to 30 September 2017, a 5% increase on the previous financial year. Lending...

UDC vote approves trust deed change

21 June 2017 - UDC Finance debenture holders have voted to pass a special resolution to change the company's trust deed, clearing the way for sale.

UDC: On track for sale

6 June 2017 - UDC Finance says its half-year profit of $30.2 million positions it well for new ownership.

UDC gets downgraded on sale news

12 January 2017 - 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.

ANZ sells UDC Finance

11 January 2017 - ANZ Bank New Zealand  has agreed to sell its asset finance business, UDC Finance, for $660 million to HNA Group.

ANZ sells UDC Finance

11 January 2017 - ANZ Bank New Zealand  has agreed to sell its asset finance business, UDC Finance, for $660 million to HNA Group.

UDC Finance posts record net profit

8 December 2016 - UDC Finance has posted a record net profit after tax of $58.5 million for the year to September 30, a 3% increase on the previous financial year. A key...

Heartland interested in UDC

29 November 2016 - Heartland Bank says it remains interested in acquisitions, and in particular ANZ-owned finance company UDC. Managing director Jeff Greenslade says UDC...

UDC downgraded and flagged as possibly for sale

25 October 2016 - UDC Finance has had its credit rating dowgraded from AA- to A- as the finance company is no longer considered to be of "strategic importance" to its parent,...

UDC sees debenture book growth

26 November 2015 - UDC Finance has increased net profit after tax 11% to $57.1 million for the year to September 30. Debenture investments are up 11% on last year, to $1...

UDC gets new boss

30 June 2015 - ANZ's finance company has a new boss, after former CEO Tessa Price took up the role of Chief of Staff for ANZ Group chief executive Mike Smith.

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