ASB to sell $100m, maybe more, of five-year notes

Tue, 27 Apr 2021

ASB Bank will sell up to $100 million of five-year notes with the ability to accept unlimited over-subscriptions at the bank's discretion.The bank is offering an indicative interest rate on the notes at between 0.55 and 0.6 percentage points over the five-year swap rate, which closed at 1.04% on Friday, depending on demand from institutional investors, but said the actual margin may be above or below the indicative range.Data released last week showed inflation in the year ended March was 1.5%.The offer will be open for just two days, closi...

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