NIB opens 2018 Kauri market with NZD 400m transaction

The five-year NZD 400 million transaction, NIB issued on 5 January, was inaugural in the New Zealand bond market this year.

The transaction was priced at 99.926254%, issue yield 3.016%, margin to swap 35 basis points/mid and margin to New Zealand government bond at 69.1 basis points/ April 2023. With the final maturity of 19 January 2023, the deal pays a 3% annual coupon.

With the new transaction, NIB has seven outstanding Kauri bonds with a total amount of NZD 3.2 billion.

For further information, please contact
Ms Angela Brusas, Senior Funding Manager, at +358 961 811 403,