Rabobank New Zealand has launched a new retail targeted 7 year senior bond with a minimum coupon of 6.25%. The bonds are fixed rate senior obligations that hold an AAA credit rating with Standard and Poors. The bond has a fixed maturity of 16 May 2018. The issue amount is $100m with no oversubscriptions. The interest rate is to be set as the greater of the minimum rate (6.25%) or the 7 year swap + 1.30% p.a. Minimum subscription is NZ $10,000 and $1,000 increments thereafter.