KiwiBank mulls $150 million note sale

Thu, 09 Apr 2015

By Suze Metherell April 10 (BusinessDesk) - Kiwibank, the banking unit of state-owned New Zealand Post, is mulling a $150 million note sale to help the bank meet regulatory requirements. The bank's Kiwi Capital Funding unit is considering the sale of perpetual capital notes to invest in "regulatory capital instruments to be issued by Kiwibank, which will help Kiwibank meet its regulatory capital requirements under the Reserve Bank’s Basel III framework," it said in a statement. It expected to make a formal offer later this month, and is y...

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