IFC brings new five year to quiet Kauri market

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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