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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.

  • 22 Jan 2010

"You will see some more Kauri bonds, but not a flood of them," said one banker. "These deals always need good domestic support and that’s a small market. If you’re an international investor and you look at it versus Australia, it’s not very attractive.

"Australia’s always offered a ...

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Bond Comments

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1 JPMorgan 159,441.15 688 8.06%
2 Citi 156,412.44 629 7.91%
3 Bank of America Merrill Lynch 128,902.57 511 6.52%
4 Barclays 125,463.27 484 6.34%
5 HSBC 102,014.24 510 5.16%

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1 Bank of America Merrill Lynch 12,900.23 34 6.66%
2 BNP Paribas 12,334.48 61 6.37%
3 UniCredit 11,196.47 58 5.78%
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5 Deutsche Bank 8,953.95 35 4.62%

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1 Morgan Stanley 5,254.13 23 10.50%
2 JPMorgan 4,766.39 27 9.53%
3 Goldman Sachs 4,259.98 19 8.51%
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5 UBS 3,602.23 16 7.20%