Bumper demand for first Aussie and Kiwi government syndications of 2020-21

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

Demand for Australia and New Zealand’s first syndications of their 2020-21 fiscal year was high on Tuesday, with both issuers printing their second largest ever deals.

New Zealand, rated Aaa/AA+/AA+, scooped NZ$4.5bn ($2.9bn) as it extended its curve with a new 1.75% May 2041 bond.

Leads Bank of New Zealand, JP Morgan, UBS and Westpac launched the bond on Monday with initial price thoughts of 29bp-36bp over the sovereign’s 2.75% April ...

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