| Decision | Consent granted Section 13(1)(c) of the Overseas Investment Act 2005 |
|---|---|
| Decision maker | Toitū Te Whenua Land Information New Zealand |
| Decision date | 5 May 2026 |
| Pathway | Significant business assets - Primary consent |
| Investment | Acquisition of interests in assets used in carrying on business in New Zealand for a consideration exceeding $100 million, as part of a receivables backed securitisation programme established by UDC Finance Limited |
| Consideration | At least $100 million |
| Applicants | UDC Finance Limited NZGT (UDC) Trustee Limited as the trustee of UDC Endeavour ABS Trust 2023-1, UDC Endeavour ABS Trust 2023-2, UDC Endeavour Auto ABS Trust 2024-1, UDC Endeavour ABS Trust 2025-1, UDC Endeavour Auto ABS Trust 2025-2, and related future securitisation trusts |
| Vendors | UDC Finance Limited NZGT (UDC) Trustee Limited as the trustee of UDC Endeavour Auto Finance Trust, UDC Endeavour Equipment Finance Trust, UDC Endeavour ABS Trust 2023-1, UDC Endeavour ABS Trust 2023-2, UDC Endeavour Auto ABS Trust 2024-1, UDC Endeavour ABS Trust 2025-1, UDC Endeavour Auto ABS Trust 2025-2, and related future securitisation trusts |
| Background | UDC Finance Limited is owned by Tokyo stock exchange listed SBI Shinsei Bank, Limited. In 2020, it established a securitisation programme to fund its core business of financing vehicle, plant, and equipment purchases in New Zealand. This consent relates to a series of transactions as part of the programme. Consent was granted as the national interest test was met. |
| More information | Richelle Go Ocao Russell McVeagh (Auckland) PO Box 8 Auckland 1140 |