KEY POINTS:
The issue of more than $120 million worth of debt securities has resulted in the amount of capital raised on the NZDX-listed debt market pushing past $2.3 billion, 15 per cent ahead of the corresponding time last year.
Absolute Capital yesterday issued $50.8 million of its capital-protected, fixed-interest securities which are backed by diversified international debt and other investments. Listed finance company New Zealand Finance issued $20 million worth of capital notes on Wednesday.
New Zealand Exchange head of markets Geoff Brown said the range and value of debt securities listed on the NZDX market had significantly increased this year.
"This has been one of the success stories of this year."
There were now more than 100 different securities listed on the market.
"This is positive for investors, who have access to a greater number of investment opportunities, for the companies who have access to capital to fund their growth, and for the New Zealand markets overall."
The market now had a nominal value in excess of $8 billion, an increase of $3 billion since 2002.
Brown said turnover on the debt market was also up, with 25,000 trades worth $1.5 billion in the year to date.
While the NZDX's bumper year was partly down to a large amount of corporate debt maturing and rolling over, especially in the second half, smaller issues targeted at retail investors had increased.
Brown believes retail investors are increasingly turning to listed securities, particularly those rated as a consequence of failures in the unlisted finance company sector this year.
