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KangaNews is the trading name of BondNews Limited, a company registered in the UK and Australia. With our head office in Sydney and a satellite office in Europe, we are positioned to provide a one-stop information service on the Australasian fixed-income markets.
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UDC Finance prints record-breaking ABS debut
UDC Finance, New Zealand’s largest nonbank lender, completed a record-sized deal with the pricing of a NZ$400 million (US$280 million) auto asset-backed securities transaction on 23 September. Evolving momentum in New Zealand securitisation has changed the issuer’s thinking on likely need to tap foreign-currency markets for wholesale funding.
Deal and ratings review, week ending 24 September 2021
Deal flow slowed in the week ending 24 September. There were highlights in securitisation markets, however, with UDC Finance executing its debut asset-backed deal in New Zealand and Westpac Banking Corporation's funding-only, residential mortgage-backed transaction in Australia - a major bank drought-breaker.