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Rates Round Up

Monday 6th of July 2009

BNZ perpetual bond raises $260 million
Bank of New Zealand's Innovative Tier 1 hybrid security raised $260 million after it was over-subscribed by around 73%.

The perpetual bond attracted investors with its 9.01% coupon per annum, and the high reset margin of 4.09% above the five-year swap rate in 2014.

The proceeds of the issue will be used by BNZ for gener...

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