PFG chairman Barney Sundstrum said "this NZDX listing of BBB rated, residential property backed bonds is the culmination of a major project for the group.”
He says it has been a ground breaking exercise and PFG Group is excited at the prospect of both growing this initial listing and listing other investment grade mortgage backed bonds in the future.
UDC revamps offering
It has also made a change to its rate tiers, now having one tier for amounts of up to $99,999 and another for amounts of more than $100,000.
"We believe that the new standard terms and competitive interest rates, backed by our AA- Standard and Poor's credit rating will make investing with UDC a serious consideration for investors and reaffirm UDC's position as a leader in the finance industry," the company says.
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