By Devika Patel
Knoxville, Tenn., Sept. 9 – BNZ International Funding Ltd. sold $850 million of notes on Thursday in a two-part offering of fixed- and floating-rate debt.
The bank priced $600 million of 2.1% five-year notes (Aa3/AA-) at 99.906 to yield 2.1%, according to a company announcement.
The company priced $250 million of five-year floating-rate notes at par with a coupon of Libor plus 98 basis points.
The notes will be guaranteed by Bank of New Zealand.
The bookrunners for the Rule 144A and Regulation S sale were Citigroup Global Markets Inc., Goldman Sachs & Co., nabSecurities, LLC and RBC Capital Markets Corp.
The notes are guaranteed by Auckland, New Zealand-based Bank of New Zealand.
| Issuer: | BNZ International Funding Ltd.
|
| Guarantor: | Bank of New Zealand
|
| Amount: | $850 million
|
| Description: | Notes
|
| Bookrunners: | Citigroup Global Markets Inc., Goldman Sachs & Co., nabSecurities, LLC and RBC Capital Markets Corp.
|
| Trade date: | Sept. 8
|
| Settlement date: | Sept. 14
|
| Ratings: | Moody’s: Aa3
|
| Standard & Poor’s: AA-
|
| Distribution: | Rule 144A, Regulation S
|
|
|
| Five-year floaters
|
| Amount: | $250 million
|
| Maturity: | Sept. 14, 2021
|
| Coupon: | Libor plus 98 bps
|
| Price: | Par
|
| Yield: | Libor plus 98 bps
|
| Call: | Non-callable
|
|
|
| Five-year fixed-rate notes
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| Amount: | $600 million
|
| Maturity: | Sept. 14, 2021
|
| Coupon: | 2.1%
|
| Price: | 99.906
|
| Yield: | 2.1%
|
| Call: | Non-callable
|
|
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|
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