NIB’s Kauri issue increased

NIB’s Kauri issue of NZD 200 million has been increased by a further NZD 100 million, bringing the new total issue size to NZD 300 million. Due April 2015, the new tranche has an issue price of USD 107.266063 to yield 5.91% or 42bp over NZGB 6%.

The issue is launched off NIB’s Australian MTN programme. Sole-lead manager is ANZ Banking Group.