NIB further increases January 2019 Kauri bond

NIB has increased its 2019 Kauri deal by further NZD 250 million, taking the total to NZD 800 million. Due on 22 January 2019, the deal has a semi-annual coupon of 4.875% and an issue/re-offer price of 100.508688% to yield 4.749%. ANZ acted as the sole lead manager for the issue. NIB currently has seven lines in the New Zealand dollars with the total outstanding volume of NZD 2,475 million, in maturities between 2015 and 2024.