Bonds in vogue with upcoming offers

(Image: BusinessDesk)

Mon, 21 Aug 2023

With three new offers, investors will have some new listed debt options available to them soon. Bank of New Zealand (BNZ) opened an offer to wholesale and retail investors for $100 million of five-year notes at an indicative margin of 1%-to-1.05%, which will be set during a bookbuild on Thursday. At last week’s closing five-year swap rate of 5.05%, that implies a coupon of 6.05%-to-6.1%. BNZ said it’s open to unlimited oversubscriptions. Separately, SBS Bank (Southland Building Society) said it’s considerin...

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