MTF finds offshore support for kiwi dollar auto trade

By Tom Porter
15 Jul 2014

Motor Trade Finances has increased the size of its New Zealand dollar auto ABS by a third after a “broad mix” of domestic and foreign investors participated in the rare sale.

Joint arrangers and lead managers Commonwealth Bank of Australia and Westpac New Zealand boosted the deal from NZ$150m (€93m) to NZ$200m before pricing on Tuesday, with a statement from MTF describing the deal as heavily oversubscribed.

That size is double that of the auto finance network’s last deal, ...

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