BNZ prices unguaranteed domestic trade at minimum volume
- Saturday, 28 March 2009
On March 27 Bank of New Zealand (BNZ) (AA/Aa2) priced the first New Zealand bank deal not backed by the local wholesale guarantee since November last year. The five-year bonds were sold predominantly to retail investors at a margin of 175 basis points over the five-year semi-annual mid-swap rate, and offer a coupon of 6.7 per cent.
