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  1. #10321
    percy
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    We are well positioned to live in interesting times.?...lol.

  2. #10322
    Senior Member Marilyn Munroe's Avatar
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    There is an article on the interest.co.nz website speculating on whether Heartland will make bid for UDC Finance.

    The article suggests Heartland will have trouble digesting an outfit the size of UDC if ANZ do not leave some vendor finance in or there is a lack of support by UDC debenture holders.

    https://www.interest.co.nz/opinion/9...en-now-quickly

    Boop boop de do
    Marilyn
    Diamonds are a girls best friend.

  3. #10323
    percy
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    Quote Originally Posted by percy View Post
    Funding.Would be a "game" changer for both,and intos would want on board.The sp would head north straight away [over $2.50], and a "huge" rights issue would be well supported.HBL would need to raise about 72 cents per share.ie approx. $400mil.
    HBL would most probably need ANZ's support for a year or so, to give them time to get bond depositors onboard.
    UDC bond depositors who left because of their worries about HNA, would most probably support HBL as a NZ bank owning UDC.
    I posted the above on 22-12-2017.

  4. #10324
    Guru
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    If Vodafone is contemplating a float on the N Z market why not UDC as well ?

  5. #10325
    percy
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    Quote Originally Posted by whatsup View Post
    If Vodafone is contemplating a float on the N Z market why not UDC as well ?
    ANZ have tended to go with trade sales with their non- core assets.
    That said,a UDC a float would be well supported.

  6. #10326
    ShareTrader Legend Beagle's Avatar
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    https://www.interest.co.nz/opinion/9...en-now-quickly

    Another capital raise for Heartland coming ?
    No butts, hold no mutts, (unless they're the furry variety).

  7. #10327
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    Quote Originally Posted by Beagle View Post
    https://www.interest.co.nz/opinion/9...en-now-quickly

    Another capital raise for Heartland coming ?
    Well, it would need to be a big one if it's to fund a purchase of UDC. According to David Hargreaves, ANZ has $2b funding UDC - which a new owner would need to find from somewhere.

  8. #10328
    percy
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    Quote Originally Posted by Beagle View Post
    https://www.interest.co.nz/opinion/9...en-now-quickly

    Another capital raise for Heartland coming ?
    Thanks for again posting the link.
    MM post #10328

  9. #10329
    percy
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    Quote Originally Posted by macduffy View Post
    Well, it would need to be a big one if it's to fund a purchase of UDC. According to David Hargreaves, ANZ has $2b funding UDC - which a new owner would need to find from somewhere.
    I have already posted my thoughts,posts # 10284 and #10329

  10. #10330
    ShareTrader Legend Beagle's Avatar
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    Quote Originally Posted by macduffy View Post
    Well, it would need to be a big one if it's to fund a purchase of UDC. According to David Hargreaves, ANZ has $2b funding UDC - which a new owner would need to find from somewhere.
    That would appear to be the nub of the issue. They're presently paying well over the odds at 2.75% to attract at call money..one wonders how much of that support disappears overnight at the slightest hint of additional risk / gearing or the hint of a hurdle to replace the ANZ support you've highlighted ? (My money would be out of there the same day any deal was announced that at least didn't maintain the current capital ratio and ensure HBL had a really long period of time to garner support from debenture holders to replace ANZ funding). On the other hand one would imagine there would be considerable synergies between the two finance companies, opps I mean finance company and bank.
    Last edited by Beagle; 18-01-2018 at 02:27 PM.
    No butts, hold no mutts, (unless they're the furry variety).

  11. #10331
    Legend minimoke's Avatar
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    Hmm. Look like I may need to save some cash for the next capital raise sooner than expected

  12. #10332
    ShareTrader Legend Beagle's Avatar
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    On the other hand, Chris Lee just posted his first weekly newsletter for the year pontificating that based on ~ $60m in profit ANZ could raise "the thick end of a billion dollars" listing UDC on the market. Why discount this heavily just for the sake of a quick sale to Heartland ?...after all its not like ANZ is a forced seller is it !
    No butts, hold no mutts, (unless they're the furry variety).

  13. #10333
    percy
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    Quote Originally Posted by Beagle View Post
    That would appear to be the nub of the issue. They're presently paying well over the odds at 2.75% to attract at call money..one wonders how much of that support disappears overnight at the slightest hint of additional risk / gearing or the hint of a hurdle to replace the ANZ support you've highlighted ? (My money would be out of there the same day any deal was announced that at least didn't maintain the current capital ratio and ensure HBL had a really long period of time to garner support from debenture holders to replace ANZ funding). On the other hand one would imagine there would be considerable synergies between the two finance companies, opps I mean finance company and bank.
    Jeff Greenslade was a director of UDC.
    Other senior HBL management staff are ex UDC.
    UDC would be a perfect fit.
    Instos would rerate HBL immediately up to $2.50.
    Raising the equity capital would not be an issue.
    The issue would be UDC bond lenders,most of whom would have been attracted to UDC via ANZ,remaining depositors.
    That would take a couple of years to settle down.
    Always remember HBL have the highest net interest margin of all the listed banks.
    Last edited by percy; 18-01-2018 at 03:22 PM.

  14. #10334
    ShareTrader Legend Beagle's Avatar
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    Perhaps Percy but ANZ will want maximum $ and the NZX is desperate for new listings so I think Chris Lee makes a good point.
    No butts, hold no mutts, (unless they're the furry variety).

  15. #10335
    Legend minimoke's Avatar
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    Quote Originally Posted by Beagle View Post
    Perhaps Percy but ANZ will want maximum $ and the NZX is desperate for new listings so I think Chris Lee makes a good point.
    How many listed banks / finance companies do we need?

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