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BNZ back with another longer-dated domestic |
Bank of New Zealand (AA/Aa2) (BNZ) returned to its domestic market on August 13, pricing a NZ$100 million (US$70.79 million) tap to its 2015 line – the second time the issuer has come to market with a five-year plus transaction this month following the launch of an increase to its 2013 on August 7.
The 2015 self-led transaction priced at 140 basis points over mid-rate swap and brings the total outstanding in the line to NZ$180 million.
| Issuer |
Bank
of New Zealand |
| Rating
(S&P/Moody's) |
AA/Aa2 |
| Sector |
Financial Institution |
| Country |
New Zealand |
| Pricing date |
13 August 2008 |
| Lead Manager |
BNZ |
| Maturity date |
27 May 2015 |
| Issue Amount |
NZ$100 million in one
tranche |
| Outstanding amount |
NZ$180 million in one tranche |
| Format |
Fixed rate medium term
notes |
| Coupon |
8.675 per cent |
| Yield |
8.365 per cent |
| Spread to
swap |
140bp/ NZ mid-rate |
| Issue price |
101.558 capital + 1.886
accrued |
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