Asian Development Bank (ADB) took advantage of demand in the early mid-curve to price its NZ$425 million (US$273.2 million) January 2023 Kauri tap on 16 August. The issuer says market conditions in New Zealand and elsewhere have become more challenging but flight-to-quality issuance opportunities are open for supranational, sovereign and agency (SSA) borrowers.
International Finance Corporation (IFC) (AAA/Aaa) launched a NZ$200 million (US$128.5 million) increase to its September 2023 Kauri bond on 19 August. Indicative price guidance for the transaction, which is expected to price on the day after launch, is 30 basis points area over mid-swap. ANZ is the lead manager.
On 19 August, Inter-American Development Bank (IADB) (AAA/Aaa) launched a minimum NZ$150 million (US$96.5 million) increase to its July 2024 Kauri bond. The deal is being marketed at 34 basis points area over mid-swap and is expected to price on the day after launch. BNZ and Commonwealth Bank are leading.