KBN prints bumper Kauri amid Kiwi dollar boom

By Frank Jackman
22 Jun 2020

Kommunalbanken snagged NZ$500m ($324.5m) on Friday with the second largest Kauri bond of the year. Interest in the New Zealand dollar is high, with NZ$1.1bn worth of SSA Kauri deals printed so far this month — and more are set to follow.

“The Kauri basis is really driving these trades at the moment,” said a banker away from the deal. “As it is elevated, it’s a lot easier to hit dollar targets.”

The Norwegian agency sold the NZ$500m 1.25% July 2030 Kauri bond on Friday. ANZ priced the deal ...

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