NZ Post, Super Fund, ACC to pour $247 million into Kiwibank

Fri, 07 Apr 2017

By Paul McBeth April 7 (BusinessDesk) - Kiwibank shareholders New Zealand Post, the New Zealand Superannuation Fund and Accident Compensation Corp will pour in a collective $247 million to make sure the state-owned bank's capital stays within the regulator's limits. Wellington-based Kiwibank canned a A$175 million bond issue last month after being told those instruments didn't meet the Reserve Bank's capital adequacy framework and that earlier issues of a tier 2 convertible subordinated bond and additional tier 1 perpetual bond also didn...

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