IADB launches new five-year Kauri bond

On 18 June, Inter-American Development Bank (IADB) (AAA/Aaa/AAA) launched a new, minimum NZ$150 million (US$96.5 million), five-year Kauri bond transaction. The forthcoming deal is being marketed at 43 basis points area over mid-swap, equivalent to 38.36 basis points area over New Zealand government bond. Pricing is expected on the day after launch, according to Commonwealth Bank.