World Bank launches dual-tranche Kauri deal

On 25 November, World Bank (AAA/Aaa) launched a dual-tranche Kauri transaction, offered in 5.5- and 10-year tenors. Minimum volume for the tranches are NZ$200 million (US$139.5 million) and NZ$100 million, with price guidance at 23 and 39 basis points area over mid-swap. ANZ, BNZ and Commonwealth Bank are leading. Pricing is expected on the day after launch.