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South Canterbury reaping '$1 million a week' from distressed assetsThursday, April 22nd, 3:56pm
South Canterbury Finance said it is reaping about $1 million a week from collections and sales of distressed assets while investors are rolling over about $100 million a month.The Timaru-based firm, which gained a lifeline this month with acceptance into the extended government retail deposit guarantee, is road-showing its new prospectus, with chief executive Sandy Maier touring the country as part of the promotion. South Canterbury has about $460 million of debentures coming due by the end of June and has hinted it may have to sell assets to meet any shortfall in maturities ...MORE »
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Strategic Finance bank debt knocks down first repayment to investorsTuesday, January 5th, 11:43am
Strategic Finance Ltd, the finance company which owes about 15,000 investors some $325 million, will miss its first repayment to stockholders after bank debt took precedence over mum and dad investors, and will likely face a review of its moratorium. MORE »Hanover posts $102.9m loss, writes off $308.9mTuesday, November 17th, 11:02am
Hanover Finance has posted a $102.9 million net loss after writing $308.9 million off the value of its assets and its shareholders' funds have been completely wiped out. MORE »SCF appoints three new directorsFriday, October 30th, 10:26am
South Canterbury Finance has appointed Bill Baylis, Stuart McLauchlan and Denham Shale as independent directors of the company. MORE » SCF repays US$50m to investorsThursday, October 29th, 1:35pm
Torchlight Credit Fund, part of Pyne Gould Corp.'s Perpetual Asset Management unit, has come to the aid of South Canterbury Finance by pulling together a group of investors to provide a $75 million funding line. MORE »South Canterbury Finance will seek govt guarantee extensionThursday, October 22nd, 11:04pm
South Canterbury Finance, will seek cover under the government's extended retail deposit guarantee after it released a new prospectus earlier this week. MORE »Asset Finance gives up Govt guaranteeTuesday, October 20th, 11:08pm
Whakatane-based non-deposit taker Asset Finance is one of the first to exit the government's deposit guarantee scheme. MORE »SCF registers new prospectusTuesday, October 20th, 5:03pm
South Canterbury Finance (SCF) has registered a new prospectus for the issue of debenture stocks and deposits and set some new rates. MORE » |
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With the recent movement in five-year term deposit rates in the past week by BNZ and ASB, the above graph looks at the margins between the major retail banks five-year fixed home loan rates and the five-year term deposit rates since the beginning of the year. The term deposits are based on a $10,000 deposit. MORE »Find an Adviser
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