IFC’s debut Kauri green bond progresses to launch

The Kauri market’s debut green bond, mandated by International Finance Corporation (IFC) (AAA/Aaa) on 26 July, progressed to launch the following day. The NZ$100 million (US$75.2 million) minimum 10-year deal, which supports “climate-smart investments” is being marketed at 58 basis points area over mid-swap or 90.6 basis points area over New Zealand government bond, according to lead managers ANZ and BNZ.