Asian Development Bank opens Kauri market but no wave to follow
The Asian Development Bank issued the year’s first Kauri bond on Thursday, a NZ$225m ($160m) four year deal, but bankers said that it was unlikely to lead to a wave of issuance of the product.
"You will see some more Kauri bonds, but not a flood of them," said one banker. "These deals always need good domestic support and thats a small market. If youre an international investor and you look at it versus Australia, its not very attractive.
"Australias always offered a ...Already a subscriber? Login