New Kauri bond launched and priced

A new fixed-rate NZD 200 million Kauri bond has been launched and priced for the Nordic Investment Bank. The deal due 16 March 2017 pays a coupon of 4.125% and has a reoffer price of 99.518. This equates to a spread of +43basis points over mid-swaps or 55.3 basis points over the NZGB 6.0% due 15 December 2017. Sole Lead manager is ANZ.

Nordic Investment Bank’s outstanding Kauri volume is now NZD 875 million, consisting of four Kauri lines.