13 Oct 2009

$A200 million bond issue by KiwiBank

1:37 pm on 13 October 2009

HSBC says KiwiBank has launched an issue of at least $A200 million in five-year bonds guaranteed by the New Zealand Government at about 40 basis points over bank bill swap rate.

The offer is expected to be rated Double A-plus by Standard & Poors and Triple A by Moody's. It will comprise fixed and floating rate notes maturing in October 2014.

Pricing is expected on Wednesday.