IFC brings new five year to quiet Kauri market

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By Frank Jackman
27 Aug 2020

International Finance Corp sold the first Kauri bond in more than two months on Thursday, while in the Kangaroo market a pair of European agencies tapped a pocket of demand further down the curve.

The supranational raised NZ$400m ($265.4m) with a new 0.375% September 2025 bond through National Australia Bank and TD Securities. The spread was set at 29bp over mid-swaps, equivalent to 33.15bp over the April 2025 New Zealand government bond. The deal was priced at 99.5606, giving a reoffer yield of ...

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