Kauri Sales Accelerate After Record N.Z. Bond Offerings in 2014
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Kauri bond sales are off to the strongest start to a year on record as offshore issuers tap into demand for the yield offered by New Zealand dollar notes.
Asian Development Bank today priced a NZ$300 million ($232 million) deal, while Nordic Investment Bank added NZ$550 million of notes to its 2020 line earlier this month. German development lender Landwirtschaftliche Rentenbank sold NZ$450 million of January 2020 bonds. The NZ$1.3 billion of notes sold by foreign issuers so far this year compares with NZ$925 million in the first month of 2014, according to data compiled by Bloomberg.