- Don’t extend Credit Code to small business says MFAA
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17 August 2010 6:40amThe Mortgage & Finance Association of Australia has attacked a Treasury proposal to extend the protection available to consumers under the National Credit Act and the National Consumer Credit Code to small business. » read more »
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Impairments forecast doubles for PGC
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17 August 2010 6:40amPyne Gould Corp’s asset impairment expenses in the year ended June 2010 are expected to be more than double the amount initially forecast. » read more »
- Clamp on card offers proposed
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16 August 2010 6:45amPre-approved increases in limits on credit cards will be made illegal by mid 2012 if a returned Labor government adopts a banking policy announced yesterday. » read more »
- ABA ups defence of bank profits
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16 August 2010 6:43amWith increased bank profitability expected to attract new attacks on the banks over coming weeks, the Australian Bankers Association is upping its defence of the industry’s conduct. » read more »
- Talent turns critic of Westpac
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16 August 2010 6:42amA disgruntled Westpac customer who used to feature in advertisements for the bank’s business banking services is planning some ads of his own to publicise his discontent with the bank’s throttling of his game company’s export finance facilities. » read more »
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Liquidity fragile for Allied after writedown
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16 August 2010 6:41amA sharp writedown in the value of Hanover and United assets has cast doubts over the fate of a big chunk of borrowings by Allied Farmers Group, a New Zealand rural services and finance company. The writedown also raises questions over the capital Allied indicated it would provide to its finance subsidiary Allied Nationwide. » read more »
- Asset quality worsens at PGG Wrightson Finance
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16 August 2010 6:41amAsset quality of PGG Wrightson Finance deteriorated sharply in the latest year, with the New Zealand finance company reporting more than a doubling of impaired and past due assets. » read more »
- Greenstone spruiks investment grading
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16 August 2010 6:40amGreenstone Energy is marketing NZ$100 million of bonds through a retail offer that commenced on Friday. It is the first public debt offering from a business that acquired the retail and distribution business of Shell in New Zealand in April. » read more »
- Melbourne Airport refinances
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16 August 2010 6:40amAustralia Pacific Airports Melbourne last week sold $350 million of bonds in four-year and three-year tranches. It priced $100 million of four-year debt at 160 basis points more than the swap rate and $250 million of six-year debt at 190 basis points more than swap. » read more »
- Orica taps US insurers
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16 August 2010 6:39amOrica Ltd early last week completed the placement of US$600 million of 10-, 12-, 15- and 20-year notes with margins ranging from 170 basis points to 205 bps over US Treasuries. The firm began sounding out investors a month ago. » read more »
- Pricing patchy on Liberty RMBS
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16 August 2010 6:39amPricing is patchy in the residential mortgage backed securities market, with the latest Liberty deal showing that the Australian Office of Financial Management is providing some pricing tension but not across the capital structure. The European sovereign debt crisis has had an impact on demand for structured credit. » read more »
