F&P Finance changes approved

Last updated 17:01 09/07/2014

Relevant offers

Industries

'Perception' the problem as super changes bring ageism into sharper focus Chart of the day: Sharp drop in value of exports from Port Taranaki Wellington's Amora Hotel says it is closing for up to 12 months TVNZ outlines newsroom cuts to staff No fine but demolition company director pleads guilty over asbestos danger Fletcher Building is a target for bored investment banks, fund says Budget will bump up NZ's infrastructure spending, finance minister signals NZ Mint seals $60m export deal to China Pattrick Smellie: Cards stacked against power price regime Chart of the day: Life and death of Taranaki mining businesses

Farmers Card and Q Card operator Fisher & Paykel Finance has approval from deposit-holders and its banking syndicate to change its corporate structure.

The changes will involve establishing a securitisation programme to fund part of the company's Q card lending through medium-term notes.

The company will also transfer its insurance business to parent company Fisher & Paykel Finance Holdings.

F&P Finance chief financial officer Rhys Clark said the company was "tidying up" its corporate structure to support growth.

The changes would allow individual business units to be more visible, he said.

Ad Feedback

- Stuff

Special offers

Featured Promotions

Sponsored Content