Supranationals pile into Kauri market

By Frank Jackman
19 Aug 2019

The Asian Development Bank returned to the Kiwi dollar market to print its largest Kauri deal since January 2018 this week. With the Inter-American Development Bank and International Finance Corporation set to follow with a pair of taps in the coming days, bankers are expecting a busy few weeks in the market as investors react to the recent surprise interest rate cut from the Reserve Bank of New Zealand.

“With the recent Reserve Bank of New Zealand [RBNZ] surprise cut and the dovish outlook, investors are looking to get positioned ahead of any potential further moves,” said one banker away from the trades.

The Asian Development Bank mandated ANZ to increase the size of its 3% ...

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