ADB opens Kauri market for 2020

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By Frank Jackman
15 Jan 2020

Demand for the Asian Development Bank's new five year Kauri print — the first SSA deal in the market since August — soared on Wednesday, leading to the deal being increased twice during pricing. With several frequent issuers also circling the market, bankers expect more to follow.

The bond was launched on Tuesday with a NZ$200m minimum size before being increased to NZ$300m.

“The order book was north of NZ$250m when we first upsized, and after getting a last few minute orders to take it to NZ$300m we upsized the deal a final time to ...

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