About Us  |   Advertise  |   Contact Us  |   Terms & Conditions  |   RSS Feeds
deposit rates

Fisher & Paykel Finance may issue bonds

Fisher & Paykel Finance is considering a number of options to diversify its funding base, including the possibility of issuing a retail bond.

Wednesday, 27 July 2011

by Jenny Ruth

"It's one of a number of things we're looking at," says managing director Alistair Macfarlane.

"Retail bonds provide another avenue of funding for us. At the moment, we're not actively pursuing it but it's certainly an option."

Funding diversification has always been one of the company's strategies, he says. "How we do that an how we execute that is up for discussion."

At March 31, debentures accounted for 24% of the company's funding with wholesale or bank funding accounting for 40% and the other 26% from securitisation.

The reinvestment rate of its debenture book was running at about 60%.

Also at March 31, the company had liquidity of $205 million, enough to cover 146% of the debenture book. In late June, the company withdrew from the government's retail deposit guarantee scheme six months earlier than it had to.

Macfarlane says the company is also considering widening its bank borrowing beyond the banks it currently deals with and looking at "how we might use our securitisation structure more efficiently than how we currently use it."

Commenting is closed


Printable version


Email to a friend
Newsletter Signup

Weekly Updates including news and commentary

Today's Best Bank Rates
Rabobank 0.75
Based on a $50,000 deposit    More Rates »
Today's Top 5 Deposit Rates
NZCU Auckland 1.00 Success Saver
First Credit Union 0.75 Online Savings
Rabobank 0.75 Rabobank PremiumSaver - max rate
Heretaunga Building Society 0.60 On Call
NZCU Baywide 0.60 Success Saver
Based on a $50,000 deposit    More Rates »
Find a Rate
Show me the rates for
invested over
Use the full calculator
Cash PIE Rates
Institution Rate 30% 33%
ANZ 0.10 0.10 0.11
ASB Bank 0.15 0.16 0.17
ASB Bank 0.15 0.16 0.17
ASB Bank 0.15 0.16 0.17
ASB Bank 0.15 0.16 0.17
ASB Bank 0.15 0.16 0.17
BNZ 0.10 0.10 0.10
Heartland Bank 0.40 0.40 0.40
Kiwibank 0.05 - -
Kiwibank 0.25 - -
Nelson Building Society - - -
SBS Bank - - -
TSB Bank 0.25 0.25 0.26
Westpac 0.20 0.21 0.23
Westpac 0.05 0.05 0.05
Westpac 0.25 0.26 0.27

More »

Previous News
Latest Trends
Coming Soon

Disclaimer - Every possible effort has been made to keep the information in the tables and on this site as accurate as possible, however, neither the publisher, Tarawera Publishing, nor anyone engaged to compile the rates and this site accept any liability for inaccuracies or any loss suffered as a result. It is strongly advised that readers check loan details with providers. The full terms and conditions of this site can be found here.

© Copyright 1997-2021. Tarawera Publishing Ltd. All Rights Reserved.