New Zealand Deposit Guarantee Scheme Approved

South Canterbury Finance approved under New Zealand Deposit Guarantee Scheme

Acceptance into the New Zealand deposit guarantee scheme was granted on Wednesday 19th November 2008.

The guarantee will, subject to its terms, cover all existing and new debt securities (including deposits) for a period of up to two years from 12 October 2008.

South Canterbury Finance has a funding base made up of retail debentures, committed bank facilities from two major New Zealand banks, a US Private Placement and a Secured Bond programme.

South Canterbury Finance has a BB+ (Negative)* credit rating from Standard & Poor’s. This rating is considered ‘investment grade’ by the international investment community.

Further information on the New Zealand deposit guarantee scheme can be found at www.treasury.govt.nz

If you require further information please contact Graeme Brown, Chief Financial Officer, or the Funding Team on 0800 808 117 or email to enquiry@scf.co.nz