Tag Archives: Bonds

interest.co.nz on today’s Dunedin City bond issue

Simply…

DCC bond issue 8.10.14 [interest.co.nz]

### interest.co.nz October 8, 2014 – 04:00pm
Post by David Chaston
A review of things you need to know before you go home on Wednesday; record beef prices, new Wtgn quake faultline, fewer home loan approvals, Dunedin borrows $70 mln, swap rates fall
Link

Crap!

Tweets:

What if Dunedin (@whatifdunedin) tweeted at 10:09 PM on Wed, Oct 08, 2014:
@sue_bidrose news today Dunedin City is doing more borrowing – to be precise, it has issued $70 million of bonds at 4.88% #laughorcry :(

Sue Bidrose (@sue_bidrose) tweeted at 10:14 PM on Wed, Oct 08, 2014:
@whatifdunedin yep – money comes off term borrowings and gets refixed. Not new borrowings – our debt continues to decline (very slowly)

What if Dunedin (@whatifdunedin) tweeted at 10:18 PM on Wed, Oct 08, 2014:
@sue_bidrose unfortunately, it’s gone out on interest.co.nz website as MORE borrowing so Dunedin City has a little PR problem

Sue Bidrose (@sue_bidrose) tweeted at 10:21 PM on Wed, Oct 08, 2014:
@whatifdunedin Thanks. Bugger.

Updated post 13.10.14 at 10:55 a.m.

Total debt of the council group of companies was $621 million on June 30.
Move saves city $1 million a year in interest on seven-year loan.

### ODT Online on Mon, 13 Oct 2014
City debt overhaul to save millions
By David Loughrey
Dunedin is set to save $7 million after better economic times meant the city council was able to renegotiate a $75 million loan. Council company Dunedin City Treasury has renegotiated the loan through ANZ and Westpac.
Read more

Posted by Elizabeth Kerr

11 Comments

Filed under Business, DCC, DCTL, Politics

Dunedin: New £300m fund

Folks, we’ve reached Nirvana – through partnership.
Mayor Dave’s been working our (Hidden Dunedin) sister-city relationships with great success. The council’s consolidated debt is CANCELLED, pending further notices!!
Disaster AVERTED.

Received.
Monday, 22 July 2013 12:38 p.m.

### telegraph.co.uk 6:19PM BST 21 Jul 2013
Dunedin bucks investment trend with new £300m fund
By James Quinn
Dunedin, the London-based private equity firm, has closed its third fund at £300m, it can be disclosed. The total is approximately £50m higher than the £250m Dunedin had initially been aiming to raise, and bucks the trend in an otherwise lacklustre private equity and venture capital fundraising market. Approximately 60% of the funds have come from outside the UK, as overseas investors want to benefit from Dunedin’s focus in the small and mid-sized company market.
The proportion of international backers is three times that from Dunedin’s previous fund, when foreign money made up just 20% of the total invested.
The new fund, the closing of which is expected to be announced as early as today, is understood to have been particularly popular among north American and Scandinavian investors. There also has been increased interest from backers in Germany and France, it is believed.
The Dunedin Buyout Fund III, as it is formally known, is understood to have received investments from sovereign wealth funds, state and private pension funds, insurance companies, foundations and so-called “fund of fund” specialists. In addition, some £60m of the new fund is understood to have been committed by the Dunedin Enterprise Investment Trust, which is listed on the London Stock Exchange. The fundraising was led by Shaun Middleton, Dunedin’s managing partner.
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HAPPY HAPPY HAPPY

Posted by Elizabeth Kerr

1 Comment

Filed under Business, DCC, Economics, Geography, Inspiration, Media, What stadium

Stockton, ‘the largest US city to fail’ (via MikeStk)

Although a city of almost 300,000, Stockton is a place where many families have known one another for generations.

### latimes.com June 27, 2012 | 4:40 am
L.A.Now
By Diana Marcum
Stockton bankruptcy will make history; residents reeling
Officials said Tuesday that Stockton would become the nation’s largest city to seek protection under the U.S. bankruptcy code. The city stopped making bond payments, and City Manager Bob Deis said he expected to file bankruptcy papers immediately. Stockton has been in negotiations with its creditors since late March under AB 506, a new California law requiring mediation before a municipality can file for reorganization of debt. It was the first use of the law, and policy analysts who watched its torturous and tedious progress have titled their report on it “Death by a Thousand Meetings.” Mediations ended Monday at midnight.
Read more

How Stockton found itself so mired in debt can be seen everywhere in the city’s core. There is a sparkling marina, high-rise hotel and promenade financed by credit in the mid-2000s, mere blocks from where mothers won’t let their children play in the yard because of violence.

RELATED:
Stockton will be largest city to fail
Stockton bankruptcy: ‘All that’s left is sadness’ for city
Stockton braces for possible bankruptcy as key vote looms

[MikeStk at ODT Online]

Posted by Elizabeth Kerr

5 Comments

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