NZF Group is launching $100 million of residential mortgage-backed securities, the bulk of which have been assigned triple A ratings from Standard & Poor's.NZF Group said the issue would feature a pool of seasoned residential mortgages, all with 100%
NZF Group is launching $100 million of residential mortgage-backed securities, the bulk of which have been assigned triple A ratings from Standard & Poor’s.
NZF Group said the issue would feature a pool of seasoned residential mortgages, all with 100% mortgage insurance cover.
It represented the first RMBS issue in New Zealand since late 2007.
NZF Group, formerly New Zealand Finance Holdings Limited, provides financial services including, investment, lending, insurance, and mortgage broking.
Standard & Poor’s have assigned the following preliminary ratings:
Class Rating Amount (mil. NZ$)
A1 AAA 87.8
A2 AAA 9.1
B AA- 2.5
C Not rated 0.6
