NZ Finance secures funding line

Commonwealth Bank provides NZ Finance with funding line to reduce reliance on debentures.

Tuesday, April 24th 2007, 7:47AM

Commonwealth Bank of Australia have approved a non-conforming mortgage securitisation warehouse facility to a wholly owned subsidiary of NZ Finance Holding.

"This new facility will assist the diversification of the group's liability funding and reduce the reliance on traditional debenture investors," NZ Finance says.

"This facility will assist with the continued growth of the group's products and services which it distributes through its growing internal mortgage broking business and external broker channels."

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NZ Finance secures funding line

Commonwealth Bank provides NZ Finance with funding line to reduce reliance on debentures.

Tuesday, April 24th 2007, 7:47AM

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