Rates round-up

Strategic investors wait as receiver mulls offers

Investors in Strategic Finance may have to wait a little longer to find out when and how much of their principal they might receive from the company's receivers, who are mulling several offers for the failed finance firm's loan book.

John Fisk of PricewaterhouseCoopers told depositrates.co.nz that several parties had indicated an interest in buying the company's loan book, and any announcement on how much investors stand to recover will require completion of their first report by the end of the month.

Strategic was sent to the receivers last month after it twice breached the terms if its moratorium arrangement by missing its first repayment to investors and exceeding its required ratio of assets to debt.