Renten and KBN join hot Kauri market

By Tessa Wilkie
28 Aug 2014

Rentenbank was this week the latest supranational or agency to take advantage of the scorching popularity of the Kiwi dollar market, pricing its second tap of a March 2019 Kauri bond, with books closing at double its minimum target. The deal follows Kommunalbanken’s increase of its own March 2019 Kauri line and caps a busy month for Kauri, including African Development Bank’s first in the format in six years.

The German development bank capped the deal size at NZ$200m ($167.4m), following a minimum target of NZ$100m for the tap, with books well oversubscribed at the NZ$200m mark, according to a banker close to the deal.

Sole-lead ANZ priced the increase — which takes the outstanding on the ...

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