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New Zealand covered bonds arrive in Europe

Bank of New Zealand International Funding is offering euro investors their first taste of an Australasian covered bond. The issuer, a subsidiary of National Australia Bank, on Wednesday launched its first euro deal, a Eu1bn seven year issue that is also the first benchmark covered bond from a non-European issuer since September 2008. Read EuroWeek on Friday to find out how BNZ fared in its European foray, and what its deal means for the prospects of further supply from non-European issuers.

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