Forex
IFC Sets Record in NZD 1 Billion Kauri Bond Deal
The International Finance Corporation (IFC) has returned to New Zealand's Kauri bond market with a record NZD 1 billion transaction, marking its largest issuance in the market.
The seven-year bond carries a 4.60% annual coupon and will mature on September 21, 2033. It was priced at 14.35 basis points above the New Zealand Government Bond carrying a 3.5% coupon and maturing on April 14, 2033.
The strong investor demand delivered a billion-dollar benchmark for IFC in New Zealand's domestic bond market.