On 26 March, MUFG Bank Auckland Branch (MUFG Auckland) (A/A1) launched a minimum NZ$100 million (US$71.1 million) three-year floating-rate note (FRN) transaction with indicative price guidance of 95-100 basis points over three-month bank bills. Pricing is expected on the day after launch, according to joint lead managers ANZ, BNZ, Morgan Stanley and MUFG Securities.
On 25 March, Heartland Bank revealed plans for a new, five-year deal to be offered to institutional and New Zealand retail investors. Full details for the potential transaction are expected to be released on 1 April. BNZ is arranger and lead manager alongside Commonwealth Bank of Australia, Deutsche Craigs and Westpac Banking Corporation New Zealand Branch.