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RBNZ's Spencer says narrow yield premium on NZ bonds vs US may widen again

RBNZ's Spencer says narrow yield premium on NZ bonds vs US may widen again

By Rebecca Howard Feb. 8 (BusinessDesk) - Reserve Bank acting governor Grant Spencer says the narrow yield premium on New Zealand government bonds versus their US counterparts may not last - despite the divergent interest rate tracks between the central banks.  New Zealand...

Rebecca Howard 08 Feb 2018
UPDATE: Fletcher likely working hard to get lenders onside to avoid having to raise new capital

UPDATE: Fletcher likely working hard to get lenders onside to avoid having to raise new capital

(Adds investor comment, details of debt, gearing, recasts lede) By Jonathan Underhill Feb. 8 (BusinessDesk) - Fletcher Building, which expects to breach its debt covenants because of further "material losses" at its building and interiors (B+I) business, is probably in urge...

Sterling Grace buys out Trustees Executors minorities for $4.9 mln

Sterling Grace buys out Trustees Executors minorities for $4.9 mln

By Paul McBeth Feb. 8 (BusinessDesk) - Sterling Grace (NZ) bought out the minority shareholders of Trustees Executors for $4.9 million, valuing the local supervisory firm at $94.4 million, almost four times what the New York-based financial services investor paid in 2003. ...

Paul McBeth 07 Feb 2018