ADB brings first Kauri bond of 2020

Adobe New Zealand dollars 230x150
By Frank Jackman
14 Jan 2020

The Asian Development Bank is “testing the market” with a new five year New Zealand dollar bond — the first Kauri deal of 2020 and the first from a SSA issuer since last August.

“Last year volumes were down, but when trades hit screens the demand was surprising,” said a banker at one of the leads. “Given the rarity of these deals, investors bought when given the chance and we found that last year every deal did well.”

The supranational is looking ...

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