Long end looks best for SSAs in Kauris and Kangas

By Nathan Collins
08 May 2014

Rentenbank sold more than double its minimum target with a long dated Kauri deal this week, highlighting diverse demand for bonds denominated in the currency. The European Investment Bank and KfW also seized on investor demand for long dated paper, selling 10 year Kangaroo taps, and syndicate bankers expect the deal flow to continue into next week.

“There’s still demand for paper at the long end of the curve,” said a London based syndicate banker. “We could see some deals in the belly of the curve too, though that’s less certain.”

ANZ priced a NZ$125m ($108.0m) tap of Rentenbank’s April 2024 bonds at 38bp over ...

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