NIB issues new Kauri and taps 2024 Kangaroo

On 14 January, NIB priced a new five-year NZD 425 million bond. The bond which is due January 2019 has an issue/reoffer price of 99.978052% and pays a semi-annual coupon of 4.875%. With this transaction, NIB’s outstanding Kauri volume totals NZD 2.25 billion consisting of seven lines with maturities between years 2014 and 2024.

NIB also increased its Kangaroo line due February 2024 with a further AUD 125 million, taking the outstanding line to AUD 525 million. NIB’s outstanding Kangaroo volume is now AUD 3.675 billion consisting of six lines with maturities between years 2014 and 2024.