Westpac NZ fuels Kiwi supply hopes

Westpac New Zealand paid the tightest spread, the lowest coupon and drew one of the most granular order books for one of the largest ever covered bonds from the region. Jim Reardon, who is head of funding at the bank, told The Cover on Thursday that the success of the deal was driven by the new legislative framework — a fact that other New Zealand issuers will want to take advantage of.