14 Dec 2020
EUR 56.10 million
On 23 June, NIB issued its first Kauri bond in two years. The five-year, NZD 400 million issue was arranged by ANZ and BNZ, and will result in 100 new kauri trees being planted on the Coromandel Peninsula east of Auckland.
“We are pleased to be back in the Kauri market after two years of absence. In terms of distribution, domestic investors made up 94%, which is a great response. The issue not only allows us to reach out to new investors and to diversify our investor base, but also to support BNZ’s environmental initiative”, says Jens Hellerup, Head of Funding and Investor Relations at NIB.
When New Zealand’s Kauri bond market first emerged in 2007, lead manager BNZ committed to planting 100 kauri trees for every transaction they arranged, in cooperation with the Kauri2000 Trust. Today, BNZ is responsible for several thousand kauri trees on the country’s North Island.
|Bond summary terms|
|Issuer:||Nordic Investment Bank|
|Rating:||Aaa / AAA by Moody's / S&P|
|Issue amount:||NZD 400 million|
|Launch date:||22 June 2020|
|Payment date:||23 June 2020|
|Maturity date:||7 July 2025|
|Re-offer spread:||MS +43 bsp|
|Joint lead managers:||ANZ, BNZ|