On 16 July, International Finance Corporation (IFC) (AAA/Aaa) launched a new, five-year, minimum NZ$200 million (US$134.5 million) Kauri bond. Indicative price guidance for the forthcoming transaction is 35 basis points area over mid-swap, equivalent to 52.1 basis points area over New Zealand government bond. Pricing is expected on or before 17 July, according to joint lead managers ANZ and BNZ.