sharetrader
Page 39 of 87 FirstFirst ... 2935363738394041424349 ... LastLast
Results 381 to 390 of 867
  1. #381
    On the doghouse
    Join Date
    Jun 2004
    Location
    , , New Zealand.
    Posts
    9,223

    Default

    Quote Originally Posted by macduffy View Post
    I think we'll have to wait and see on that. While HNA Group may or may not be more competitive than ANZ on the loan side in this business segment, HNA may find that it also needs to pay a little more for its local funding if UDC depositors become uncomfortable about the loss of the "moral comfort" of ANZ's parentage.
    Take a look at how UDC was financed at balance date Macduffy.

    FY2016
    UDC Shareholder Capital $423.247m
    ANZ Committed Credit Facility $595.000m
    Debenture Investments From Public $1,591.711m

    As a result of the purchase announced today, that UDC shareholder capital will pass to HNA.

    From the Financial Report for FY2016 we learn that the amount of the ANZ committed facility was increased to $1,800m on 24th November 2016. (post balance date). That gives a headroom facility of:

    $1,800m - $595m = $1,205m

    I reckon that is more than enough to repay all maturing debentures until the deal goes through in the second half of FY2017. ANZ have agreed to fund UDC with a loan as low as 3% until the takeover date. Then the Chinese will be able to use their muscle to keep funding this finance company at unrealistically low interest rates until the competition cracks. The Chinese could continue a borrowing program in New Zealand. But with their own cheaper finance from offshore, why would they? I think it is all over for UDC debenture investors and potentially very stiff competition coming to other 'local' finance companies, including Heartland Bank!

    SNOOPY
    Last edited by Snoopy; 11-01-2017 at 10:11 AM.
    Watch out for the most persistent and dangerous version of Covid-19: B.S.24/7

  2. #382
    Veteran novice
    Join Date
    Jun 2007
    Location
    , , .
    Posts
    7,289

    Default

    Am I reading my highlighting correctly? Is "replacement of the secured investment program" code for all existing debenture holders being paid out, and all funding to come from the Chinese in future?
    Could be. It could also mean getting investors to accept an alternative form of secured investment. Or something else.

  3. #383
    Senior Member pierre's Avatar
    Join Date
    Jul 2004
    Location
    Hawkes Bay, New Zealand
    Posts
    1,104

    Default

    Quote Originally Posted by Snoopy View Post
    I think it is all over for UDC debenture investors and potentially very stiff competition coming to other 'local' finance companies, including Heartland Bank!

    SNOOPY
    HBL investors heading for the hills in panic (not) - 4,928 shares sold so far this morning!

  4. #384
    Speedy Az winner69's Avatar
    Join Date
    Jun 2001
    Location
    , , .
    Posts
    37,739

    Default

    Quote Originally Posted by pierre View Post
    HBL investors heading for the hills in panic (not) - 4,928 shares sold so far this morning!
    Probably relieved as anything in that Jeff did not got over excited and over pay for UDC
    “ At the top of every bubble, everyone is convinced it's not yet a bubble.”

  5. #385
    percy
    Join Date
    Oct 2009
    Location
    christchurch
    Posts
    17,222

    Default

    Quote Originally Posted by winner69 View Post
    Probably relieved as anything in that Jeff did not got over excited and over pay for UDC
    So very true,however,for reasons best known to ANZ, Jeff never got a look in.
    Pity as I think HBL/UDC would have been good for NZ.

  6. #386
    Veteran novice
    Join Date
    Jun 2007
    Location
    , , .
    Posts
    7,289

    Default

    Quote Originally Posted by percy View Post
    So very true,however,for reasons best known to ANZ, Jeff never got a look in.
    Pity as I think HBL/UDC would have been good for NZ.
    Did HBL ever approach ANZ and make a bid for UDC? If so, I must have missed that somehow.

  7. #387
    percy
    Join Date
    Oct 2009
    Location
    christchurch
    Posts
    17,222

    Default

    Quote Originally Posted by macduffy View Post
    Did HBL ever approach ANZ and make a bid for UDC? If so, I must have missed that somehow.
    At HBL's agm they said they had approached ANZ,but never heard back from them.
    The Chairman told me after the meeting, they expected ANZ were selling it to the Chinese.
    Although Heartland always said they would be keen to buy UDC,I got the impression they did not seem to be concerned to be missing out.

  8. #388
    Veteran novice
    Join Date
    Jun 2007
    Location
    , , .
    Posts
    7,289

    Default

    Thanks, percy. Perhaps the vibe was that the Chinese group was going to offer more than HBL was prepared to pay? Overall, I don't see the change of UDC ownership as a negative as far as HBL is concerned.

  9. #389
    On the doghouse
    Join Date
    Jun 2004
    Location
    , , New Zealand.
    Posts
    9,223

    Default ANZ.NZ Loan Book Classifications FY2016

    Quote Originally Posted by Snoopy View Post
    One year on and we look at the chances of default for ANZ.NZ mortgages and ANZ.NZ other retail loans.

    http://www.anz.co.nz/about-us/media-...r-information/

    (page 53 of the ANZ NZ September 30th 2015 Reserve Bank disclosure).

    For retail mortgages: 30-09-2013 For retail mortgages: 30-09-2014 For retail mortgages: 30-09-2015
    Grades 0-3: 0.2% 0.2% 0.2%
    Grades 4: 0.46% 0.46% 0.46%
    Grade 5: 0.93% 0.93% 0.92%
    Grade 6: 2.11% 2.04% 2.02%
    Grade 7,8: 5.40% 5.24% 5.27%

    For other retail: 30-09-2013 For other retail: 30-09-2014 For other retail: 30-09-2015
    Grades 0-2: 0.1% 0.1% 0.1%
    Grades 3-4: 0.29% 0.30% 0.26%
    Grade 5: 1.12% 1.13% 1.00%
    Grade 6: 2.67% 2.60% 2.39%
    Grade 7,8: 11.25% 9.56% 8.79%

    Overall observation? A continuing small risk reduction from year to year in the higher risk categories (mostly Grade 6 and above).

    SNOOPY
    One year on and we look at the chances of default for ANZ.NZ mortgages and ANZ.NZ other retail loans.

    http://www.anz.co.nz/about-us/media-...r-information/

    (The following tables are updated from page 53 of the ANZ NZ September 30th 2016 Reserve Bank disclosure).

    For retail mortgages: 30-09-2012 For retail mortgages: 30-09-2013 For retail mortgages: 30-09-2014 For retail mortgages: 30-09-2015 For retail mortgages: 30-09-2016
    Grades 0-3: 0.2% 0.2% 0.2% 0.2% 0.2%
    Grades 4: 0.46% 0.46% 0.46% 0.46% 0.46%
    Grade 5: 0.93% 0.93% 0.93% 0.92% 0.92%
    Grade 6: 2.12% 2.11% 2.04% 2.02% 2.00%
    Grade 7,8: 5.35% 5.40% 5.24% 5.27% 5.13%

    For other retail: 30-09-2012 For other retail: 30-09-2013 For other retail: 30-09-2014 For other retail: 30-09-2015 For other retail: 30-09-2016
    Grades 0-2: 0.1% 0.1% 0.1% 0.1% 0.1%
    Grades 3-4: 0.29% 0.29% 0.30% 0.26% 0.26%
    Grade 5: 1.10% 1.12% 1.13% 1.00% 0.99%
    Grade 6: 2.50% 2.67% 2.60% 2.39% 2.11%
    Grade 7,8: 10.07% 11.25% 9.56% 8.79% 7.86%

    Overall observation? A continuing small risk reduction from year to year in the higher risk categories (mostly Grade 6 and above). Yet despite the reserve bank telling us of the risks of an inflated housing market, ANZ are seeing less risk in their retail mortgages than last year. I find that a bit strange.

    SNOOPY
    Last edited by Snoopy; 11-01-2017 at 03:19 PM.
    Watch out for the most persistent and dangerous version of Covid-19: B.S.24/7

  10. #390
    Senior Member
    Join Date
    Oct 2014
    Location
    rural canterbury
    Posts
    1,357

    Default

    Quote Originally Posted by Snoopy View Post
    Overall observation? A continuing small risk reduction from year to year in the higher risk categories (mostly Grade 6 and above). Yet despite the reserve bank telling us of the risks of an inflated housing market, ANZ are seeing less risk in their retail mortgages than last year. I find that a bit strange.
    SNOOPY
    Possibly a result of increased restrictions around home loan lending?

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •