Bank of China NZ undeterred after offering 'premium' return in first NZD bond sale

Mon, 16 Oct 2017

By Jonathan Underhill Oct. 16 (BusinessDesk) - Bank of China New Zealand raised $150 million in its first NZ dollar bond sale and says having to offer a higher return than similarly rated local corporates hasn't put it off the local debt market. The lender, which has an A credit rating at Standard & Poor's, was registered with the Reserve Bank in November 2014 and the sale of five-year bonds is the first under its recently established medium-term note programme, meaning it's a newbie in the New Zealand market. The October 2022 bonds ca...

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