World Bank launches seven-year Kauri bond

On 14 September, World Bank (AAA/Aaa) launched a new seven-year, NZ$150 million (US$100.3 million) minimum, Kauri transaction. Indicative price guidance for the forthcoming deal is 36 basis points area over mid-swap, equivalent to 44.4 basis points area over New Zealand government bond. Pricing is expected on the day after launch, according to lead managers ANZ, BNZ and TD Securities.