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BNZ flops as Aussie banks fill euro demand

20 Jan 2012

While Australian banks got a multi-currency array of public and private covered bonds away this week after their trio of inaugural euro benchmarks last week, a further sale in the currency by one issuer’s New Zealand subsidiary flopped. Despite Bank of New Zealand’s significant over-collateralisation and ultra-low loan to value ratio, its quintet of lead managers had to postpone its expected deal.

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20 Jan 2012