Mortgage bond issue world first
The Christchurch-based United Building Society yesterday announced a New Zealand and world first with the issue of SUS 100 million of Eurobonds backed by New Zealand home mortgages. The bonds are a new way of generating extra funds for the mortgage market by allowing international investors to take part in the New Zealand mortgage market. The bonds were given rare triple-A status by international rating agencies — better even than the New Zealand Government. Report, page 36.
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Press, 5 April 1989, Page 1
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81Mortgage bond issue world first Press, 5 April 1989, Page 1
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