By Jennifer Chiou
New York, Jan. 28 - Asian Development Bank said it priced its inaugural New Zealand dollar Kauri issue with the launch of NZ$225 million of 5 3/8% four-year bonds at 99.804616 to yield 62 basis points over the 6½% New Zealand government bond due April 2013.
ANZ National Bank and RBC Capital Markets were the lead managers.
The bonds mature on Jan. 29, 2014.
Proceeds will used for the bank's ordinary capital resources as well as for its non-concessional operations.
The financial institution promotes economic and social progress in the Asia-Pacific region and is based in Manila, the Philippines.
| Issuer: | Asian Development Bank
|
| Issue: | First New Zealand dollar Kauri bonds
|
| Amount: | NZ$225 million
|
| Maturity: | Jan. 29, 2014
|
| Lead managers: | ANZ National Bank, RBC Capital Markets
|
| Coupon: | 5 3/8%
|
| Price: | 99.804616
|
| Yield: | 62 bps over the 6½% New Zealand government bond due April 2013
|
| Call: | Non-callable
|
| Announcement date: | Jan. 28
|
| Settlement date: | Jan. 29
|
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