Speirs Finance Raises $200m in First Capital Raise, Expands Financing Platform for NZ Businesses

Speirs Finance Group has completed its first capital raise, securing $200m from institutional investors in NZ and Australia through an asset-backed securities issue. The multi-tranche notes carry Fitch ratings and diversified Speirs' capital strategy, expanding its platform to support equipment, vehicle, and technology financing across various sectors. Investor demand for the deal shows confidence in NZ's economy.

Speirs Finance Group, a specialist in lending to small to medium-sized enterprises (SMEs), has successfully completed its first capital raise, securing $200 million from institutional investors in New Zealand and Australia. The funding was secured through an asset-backed securities (ABS) issue, with multi-tranche notes carrying Fitch ratings [1].

The capital raise, diversified Speirs' capital strategy by expanding its platform to support the financing of equipment, vehicles, and technology across key sectors including construction, transport, healthcare, agriculture, and fleet leasing. The company, owned by Australian private equity firm Anchorage Capital Partners, aims to leverage this new capital to support its growth and expand its services to more SMEs [1].

Chief executive Michelle Herlihy noted that the strong investor demand for the deal reflects deep confidence in New Zealand's economy. This capital raise is a significant milestone for Speirs Finance Group, positioning it to support the financial needs of SMEs across various sectors [1].

Meanwhile, Altice USA's subsidiary Cablevision Lightpath is planning a substantial asset-backed securities sale, with analysts predicting varying price targets. The company aims to sell up to $2.8 billion in asset-backed securities backed by fiber networks and customer agreements. This move comes as Altice USA faces significant debt maturities in 2027 and 2028 [2].

Wall Street analysts have set an average one-year price target of $2.88 for Altice USA Inc (ATUS), with a high estimate of $7.40 and a low estimate of $1.00. This indicates a potential upside of 4.61% from the current trading price of $2.75. Brokerage firms have given Altice USA a "Hold" status, suggesting a cautious approach to the company's stock [2].

GuruFocus estimates an upcoming GF Value of $2.55 for Altice USA Inc (ATUS), indicating a downside potential of 7.27% compared to the current price of $2.75. This estimate is based on historical trading multiples, past business growth, and projected future performance [2].

References:
[1] https://www.nzherald.co.nz/business/companies/banking-finance/speirs-finance-secures-200m-in-first-capital-raise-for-nz-businesses/KQGICV4IYNERTIZ2EMZ7XM5H5U/
[2] https://www.gurufocus.com/news/2967102/altice-usa-atus-subsidiary-plans-28b-assetbacked-securities-sale