First retail credit CPPI launched in New Zealand

The first credit product offered to retail investors in New Zealand using constant proportion portfolio insurance (CPPI) techniques has been launched by French bank Calyon and Forsyth Barr, a New Zealand stockbroking and investment advisory firm.

The NZD$100 million ($63 million) transaction, called Credit Sails, comprises 6.5-year fixed-rate notes that will pay quarterly coupons of 8.5% a year, and are expected to be rated AA on the principal by Standard & Poor’s. Returns are linked to the per

To continue reading...

You need to sign in to use this feature. If you don’t have a account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an indvidual account here: