HGH - Heartland Group Holdings

[Minerbarejet]

I would be more interested to know who bought and sold the 13.44m shares traded yesterday?

I suspect Moosie bought them off Sorenson but could be wrong.

[Snoopy]

The Note 26 footnote tells you that the $100M + $400M is only drawn down to $259M so that is the amount to be repaid.

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

[macduffy]

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

HNZ would be paying a fee for the right to sell the securitized assets, at an agreed price, within an agreed period. Rather like securing an overdraft facility in that an establishment fee is paid whether or not the borrower ever utilises the overdraft.

[Snow Leopard]

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

[Snoopy]

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

[winner69]

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

[percy]

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

[Xerof]

I see a hound called heartland starts in race 5

not really percy, but couldn't resist

[nextbigthing]

I see a hound called heartland starts in race 5

Please stop it, Snoopy's getting excited.

[percy]

I see a hound called heartland starts in race 5

not really percy, but couldn't resist

Yeah right!!!
Good one! lol.