A (upto) seven year loan with the interest accumulating!
Best Wishes
Paper Tiger
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Yes I noticed that too PT. It appears nothing was learned from the GFC. One of the main issues in regard to finance companies coming unstuck was what you're alluding too, capitalising interest, (usually on property development loans). This coming in a week when the Reserve bank expressed concern with the additional $3.5 billion of new farm loans raised this year.
This strikes me as a quasi home equity release type product, perhaps some sort of veiled acknowledgement the HER division has underperformed expectations ?
One would hope the LVR limits have been set at a far more conservative level than the rest of their rural book at 61% otherwise with capitalising interest and declining farm prices it won't take long for Mr and Mrs Farmer to be underwater.
https://youtu.be/Xyh-JpWdGmQ
Best Wishes
Paper Tiger
Not ideal....did "we" already know this ?
http://www.sharechat.co.nz/article/a...g-2-2-mln.html
"The latest liquidators report in May 2015 from Blacklock Rose liquidator Garry Whimp said two secured creditors – understood to be Heartland Bank and Trade Publication Ltd, are owed $1.449 million. The IRD has put in a claim for $287,190, while the company owes wages and holiday pay of $18,125. Claims from a further 24 unsecured creditors have been received totalling $625,631."
Not ideal....did "we" already know this ?
http://www.sharechat.co.nz/article/a...g-2-2-mln.html
"The latest liquidators report in May 2015 from Blacklock Rose liquidator Garry Whimp said two secured creditors – understood to be Heartland Bank and Trade Publication Ltd, are owed $1.449 million. The IRD has put in a claim for $287,190, while the company owes wages and holiday pay of $18,125. Claims from a further 24 unsecured creditors have been received totalling $625,631."
Looks like its on move up slowly.....don't wanna jinx anybody though. Some big player might come and change it all over.
https://nzx.com/companies/HNZ/announcements/269858
Chris Mace (Director) buying on market 713k shares. not bad.
Not surprised... Heartland's trading at a huge discount, directors/management see this, amazing Mr Market doesn't (similar to ARV)...
What is surprising is that Aussie banks are all doing very well today and heartland's barely keeping in the green...