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‘We are not picking winners’: Willis on gas transition loan
Brent Edwards
Mon, 25 May 2026
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Mon 25 May 2026 03:10:22pm
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Mon 25 May 2026 03:10:22pm
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Shadow board minority expect immediate OCR move this week
Most members of the NZ Institute of Economic Research’s shadow board believe the Reserve Bank should keep the official cash rate on hold at 2.25% this week.
The central bank reviews the cash rate on Wednesday afternoon, ahead of Thursday’s Budget.
BNZ research head Stephen Toplis said the RBNZ had no choice but to raise the OCR, the only question was when. “We think it should be moving interest rates to neutral as soon as possible. We also think it won’t.”
Professor Arthur Grimes noted inflation pressures. “While the current situation is highly uncertain, a gradual start to the tightening cycle should begin at this announcement.”
Other economists thought the central bank could hold the cash rate until at least July or September.
TruScreen raises $1.82m in oversubscribed placement
Dual-listed cervical cancer screening device company TruScreen has raised $1.82m in an over-subscribed placement as part of a planned $2.9m capital raise.
The company received commitments from new and existing investors in the initial placement at 14 cents per share, with oversubscriptions of $820,000.
Given the placement was higher than available capacity, the company has agreed to issue 110 million shares on June 1 and a further 20 million in Tranche 2, provided it gets an NZX waiver and shareholder approval by July 7.
The company will issue one free attaching option for each two new shares issued in both tranches at the same price, with an expiry date of two years.
The second part of the capital raise – a one-for-five pro-rata renounceable rights offer – opens on May 29 at a price of 13 cents per share.
Chair Tony Ho said the company was pleased with the strong support in the placement.
TruScreen reported an unaudited loss of $2.2m for FY26, the same as the previous year.
Radius Care increases and extends debt facility
NZX-listed aged care provider Radius Residential Care has set up a new lending syndicate that will extend its debt limits by $30m.
The company announced the new arrangement this morning, which will see the local arm of Bank of China join its long-standing banking partner, ASB Bank.
“Syndication of our debt facilities reflects broad confidence in our financial performance and growth strategy,” Radius Care chief financial officer Jeremy Edmonds said.
Along with the syndication, the company’s existing debt facility limits were increased by $30m to fund the recently announced acquisition of Karori Village for $13.6m and the development of its own facility in Belfast, Christchurch.
The refinancing also saw the expiry date of all its facilities pushed back to June 2029 and a reduction in margins and line fees by an average of 65 basis points.
Earlier this month, Radius reported a 36% lift in its full-year profit and a 14% lift in revenue.
Jehovah’s Witnesses contribute to 16,500 delegates to NZ
Business conferences attracted 16,527 international delegates to New Zealand during the first three months of the year, generating $54.1 million in economic benefits, according to data from Stats New Zealand.
Delegates from Australia accounted for almost half of those, at 8204 arrivals, up 37% on the first quarter of last year, Stats NZ said.
Those numbers remain about 8% below the same period in 2019. Delegates from the US came in at 2425 arrivals, which was up 28% on pre-pandemic numbers, while there were healthy numbers from China, Japan, Korea, and the UK.
Business Events Industry Aotearoa CEO Lisa Hopkins said the stimulus had come from several major events in January, including the Special Convention of Jehovah's Witnesses in Auckland, an International Sedimentological Congress in Wellington, and the International Cool Climate Wine summit in Christchurch.
According to the global Event Industry Council, business events were worth US$1.8 trillion ($3.1tr) last year.
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Mon 25 May 2026 03:10:12pm
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