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SYDNEY, July 13 (Reuters) - Bank of New Zealand (BNZ), the
country's third largest lender, has raised NZ$540 million ($339
million) in four separate transferable deposit issues, it said
on Monday.
The issues include a combination of increases and new lines
with some covered by a New Zealand government guarantee put in
place to help banks weather the global financial crisis.
BNZ is a unit of National Australia Bank (NAB.AX),
Australia's top lender.
Details of the government-guaranteed bond are as follows:
Issuer: Bank of New Zealand
Facility: Fixed rate government backed note increase
Guarantor: New Zealand
Law: New Zealand
Amount issued: NZ$415 million
Total amount: NZ$700 million
Maturity: Feb. 20, 2014
Set date: July 7
Coupon: 4.775 percent
Yield: 5.68 percent
Spread: +60 basis points over swap or
+102 bps over 2013 NZGB
Issue price 98.167282 including 1.807113 interest
Lead(s): BNZ Capital
Issuer ratings: AAA (S&P), Aaa (Moody's)
Issue ratings: AA (S&P), Aa2 (Moody's)
Details of the unguaranteed issues are as follows:
Issuer: Bank of New Zealand
Facility: Fixed rate notes
Law: New Zealand
Lead(s): BNZ Capital
Issue ratings: AA (S&P), Aa2 (Moody's)
Tranche: 2016 2013 2012 tap
Amount issued: NZ$50 mln NZ$50 mln NZ$25 mln
New total: NZ$50 mln NZ$50 mln NZ$125 mln
Set date: 27 May 14 July 13 July
Maturity: 27 May 2016 15 Apr. 2013 15 Sep. 2012
Coupon: 7.465% 6.12% 7.50%
Yield: 7.465% 6.12% 5.68%
Spread: +200bp/swap +135bp/swap +120bp/swap
Gross price 100 101.4933933 107.652174
($1=1.594 New Zealand Dollar)
(Reporting by Cecile Lefort)
