NIB returns to Kauri market with NZD400m issue

The Nordic Investment Bank has issued its first Kauri bond in two years - a five-year NZD400 million issue arranged by ANZ and BNZ.

The bond, which carries a coupon of 0.75% pa, will result in 100 new kauri trees being planted on the Coromandel Peninsula, east of Auckland. When New Zealand’s Kauri bond market first emerged in 2007, lead manager BNZ committed to planting 100 kauri trees for every transaction they arranged, in cooperation with the Kauri2000 Trust.