Roger Kerr posted on July 10, 2011 19:49
BNZ Bank Limited has announced the launch of 5 year unsecured, unsubordinated bond. Details are as follows:
Issuer Bank of New Zealand Limited
Instrument Unsecured, unsubordinated registered transferrable deposits
Isuuer Credit Rating AA S&P, Aa3 Moody's
Structure Fixed rate bonds with a 5 year maturity
Issue Size $125m plus unlimited oversubscriptions
Maturity 15 July 2016
Issue Margin 1.38% over 5 year swap rate (approx 5.80% if priced today)
Minimum Holding NZ$5,000 with multiples of $1000 therefter
Offer Opens Thursday 7 July 2011
Offer Closes Tuesday 12 July 2011
Interest Rate Set Tuesday 12 July 2011
Issue Date Friday 15 July 2011