New Kauri bond launched and priced

NIB has priced and launched a new fixed-rate NZD 525 million Kauri bond. Due 30 January 2018, the deal pays a coupon of 3.5%, which equates to a spread of +30 basis points over mid-swaps. This is the largest Kauri issue for settlement since 2006. Sole Lead manager is ANZ.

NIB’s outstanding Kauri volume is now NZD 1.55 billion, consisting of five Kauri lines.