RBNZ approves Kiwibank bonds as regulatory capital after changes

Thu, 10 Aug 2017

By Sophie Boot Aug. 10 (BusinessDesk) - The Reserve Bank will recognise two bonds issued by state-owned Kiwibank as regulatory capital under the Capital Adequacy Framework, having previously rejected them. The ruling covers $100 million Tier 2 convertible subordinated bond issued in June 2014 and $150 million of Additional Tier 1 perpetual bonds issued by Kiwibank subsidiary Kiwi Capital Funding Ltd (KCFL) in May 2015. Kiwibank said that the RBNZ has issued a non-objection letter about the bonds after the lender made changes to address...

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