December 3, 2008

Finance companies resurgent

Hi

Not that many months ago people had written off the finance company sector, now with the government guarantee funds are flowing again. Yesterday the last McDouall Stuart report on the sector was released. You can:

• Read about it here
• Read the executive summary
• Order your own hard copy of the full report here

Also, we have an up-to-date list of who has a guarantee on depositrates.co.nz and when looking at rates you can see who has a guarantee.

While the finance company sector is pulling in money there are a number of offers in the market. PGG Wrightsons bond offer is being well-supported, we are told. Now Wellington Airport and Genesis Energy have bond offers in the market. We expect the rate for the Genesis offer will be announced today. Also details of South Canterbury Finance's offer aren't far away and depositrates.co.nz will report on another offer which is offering rates of 15% soon.

Yesterday we finally had news on Strategic Finance's moratorium plans and learnt that the North South Finance plan had been accepted.

Also there has been some good news for Geneva Finance. It reports that BOS has recommitted to its wholesale funding line.

For all the news and rates visit www.depositrates.co.nz