I suspect Moosie bought them off Sorenson but could be wrong.:)
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I see the note PT, but I don't get it.
If you have a securitized banking facility, I understood that this was your own debt repackaged as a saleable entity that was onsold to a third party. So if the ABCP trust has a facility of $400m and the CBS Warehouse Trust has a facility of $100m , what you are saying is that the actual amount of debt sold into those trusts was actually far less than that ($259m)? Why would any buyer of securitized assets purchase an unknown variable amount of debt? How would they know what to pay for a debt package of indeterminate size?
SNOOPY
I do not know and I guess in this instance I do not particularly care that I am in ignorance.
But can I read the accounts and that is what it says, I am willing to accept that they are correct.
I see that PGW selling down yesterday has caused a few minor ripples. Wish I had had a buy order in at $0.84.
Best Wishes
Paper Tiger
Looking into the credit worthiness of Heartland I pulled up this from the Reserve bank website on explaining credit ratings:
http://www.reservebank.govt.nz/regul...ks/3498179.pdf
Probability of default is listed at 1 in 30 over 5 years for BBB rated bank. BB is a 1 in 10 default chance, so maybe BBB- the Heartland rating is about 1 in 20?
Interested to see that the Co-operative bank also has a BBB- rating now.
http://www.reservebank.govt.nz/regul...redit_ratings/
I thought they were lower than that!
SNOOPY
Well that punt with the TAB money was a waste of time .....HNZ not seen as a star by an irrational market. Put the cash back in the TAB ..bugger the ABs not playing this week and the Warriors are playing the drug runners so that's too dangerous so might have a play around with Djokavich in th tennis
Well the brokers got a few dollars out of it anyway
One day HNZ might just get exciting
Found the right web page for you;www.thedogs.co.nz
I see a hound called heartland starts in race 5
not really percy, but couldn't resist