UPDATED: Hanover Finance took a double hit yesterday with a ratings downgrade and news of a Commerce Commission investigation.

Christchurch

The Reserve Bank today reduced the official cash rate (OCR) from 8.25% to 8.00%.

The Reserve Bank today reduced the official cash rate (OCR) from 8.25% to 8.00%.

Hanover Finance has suspended acceptance of new investments and repayment of existing deposits as it worked with trustees on a plan to restructure the business going forward.

Wellington

Christchurch

Various

Palmerston North

Two of the Australian Cymbis funds have missed their debenture repayment dates.

Pyne Gould Corp-owned finance company MARAC set the interest rate on its NZ$100 million bond sale at 10.50%.

New Plymouth