ANZ have launched a new 7 year senior bond issue. Details are as follows:

Issuer:     NZ National Bank Limited

Issue rating:   AA (Standard and Poors); Aa3 (Moodys); 

Issue size:  Up to $100m (with oversubscriptions up to NZ $150m)

Duration:  7 years  -  maturity 20 September 2018

Issue type:  Unsecured, unsubordinated medium term senior bonds

Margin:  1.80% to mid swap

Coupon: To be set on Friday 16 September based on the margin above. At current yields this is likely to be approximately 6.12%

Opening date: Tuesday 13 September

Closing date:  Friday 16 September