Bank of NZ sells NZ$415 mln govt-backed bonds

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SYDNEY, July 3 (Reuters) - Bank of New Zealand (BNZ) has
sold NZ$415 million ($261 million) of fixed rate 2014 bonds at
60 basis points over swap, lead manager BNZ Capital said on
Friday.

The triple A rated issue was covered by a government
guarantee put in place by New Zealand to help banks weather the
global financial crisis.

The bonds carried a coupon of 4.775 percent and a price of
96.360169, giving a yield of 5.68 percent. Settlement is on
July 7 and the bonds mature on February 20, 2014.
The sale took the total size of the Feb 2014 line to NZ$700
million. BNZ is New Zealand's third-largest lender and is owned
by National Australia Bank (NAB.AX), Australia's largest
lender.

(Reporting by Wayne Cole; Editing by Mark Bendeich)