NIB’s 2018 Kauri line increased to NZD 700m

NIB has increased its Kauri issue due 30 January 2018 with NZD 175 million. The total size of the deal has thus been brought to NZD 700 million. The new tranche has an issue/reoffer price of 99.550678% to yield 3.605% semi-annually. ANZ and BNZ acted as joint lead managers for the issue.

NIB has now six different maturity lines in the Kauri market totalling NZD 1,825 million.