Rating: Aaa/AAA/AA+
Amount: NZ$100m
Maturity: February 4, 2008
Issue price: 101.15
Coupon: 6.25%
Launched: Tuesday January 7
Joint leads: TD Securities (books), Rabobank
Bookrunner's comment:
Rabobank has succeeded in bringing a transaction in all three non-core dollar markets in the last three weeks, which proves its attractiveness to investors and we had a solid syndicate for this issue.
Market appraisal:
"...the name sells well into the retail network and we are seeing good flows in the five year part of the curve.
This is the only Euro-kiwi product maturing in 2008. As one of the few mid-dated deals, the paper will sell well over time."
"...this deal kicked the kiwi market off this year, and attracts some publicity for the currency. There is still attractive yield in this market and Rabo is a great name to bring."
