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Trustpower considers retail bond offer

Trustpower is considering making an offer of up to NZ$100,000,000 (with the ability to accept up to NZ$25,000,000 of oversubscriptions at Trustpower’s discretion) of seven year unsecured, unsubordinated fixed rate bonds to New Zealand institutional and retail investors.
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Westpac tips no OCR cut

Westpac expect the RBNZ to leave the OCR on hold this week. ...

Bond offer by Vector

Vector Ltd announced an offer of up to NZ$200m (with the ability to accept up to NZ$50m in oversubscriptions), of 6 year, unsecured, unsubordinated, fixed rate bonds maturing on 27 May 2025 to institutional investors and New Zealand retail investors. ...

Global rates decline

Lower than expected US core CPI data and a downbeat economic assessment from ECB President Draghi pushed global rates lower overnight, although they have recovered marginally over the past hour after the release of the FOMC minutes, sys Nick Smyth at BNZ Markets. ...

Heartland note offer closes

Heartland Bank has today announced that the offer of 5 year, unsecured, unsubordinated, fixed rate notes has closed, with the final amount to be issued being $125 million. ...

New monetary policy - Orr speech

RBNZ Governor Orr speaks this morning at 9am on the RBNZ’s new monetary policy framework, which will include the formation of a seven member Monetary Policy Committee (MPC). ...

Whopper bond issue

Housing New Zealand priced a $500m 7.5 year sustainability bond yesterday, the first such bond in the New Zealand market. ...

[PREMIUM - SUBSCRIBER} OCR no-change causes a tizzy

The RBNZ today threw the cat amongst the pigeons in moving to a formal easing bias, says BNZ Markets, commenting on the central bank's underlying rationale attached to today's 'no-change' decision on the Official Cash Rate. ...

Heartland considers note offer

Heartland Bank is considering making an offer of unsecured, unsubordinated, medium term, fixed rate notes to institutional and New Zealand retail investors. ...

Green bonds by Argosy

Argosy Property is offering of up to $75 million (with the ability to accept an additional $25 million in oversubscriptions at Argosy’s discretion) of senior secured fixed rate 7 year green bonds to New Zealand retail and institutional investor ...

Meridian raises US capital

Meridian priced its third United States Private Placement (“USPP”) transaction, raising US$300m in long term funding across 10, 12 and 15-year maturitie ...

$100m bond issue by Trustpower

Trustpowe announced that following the successful bookbuild process for its offer of unsecured, unsubordinated, re-setting fixed rate bonds (Bonds), it has set the issue size at NZ$100m. ...

Swap rates up

The NZ rates market also saw some profit-taking ahead of the RBNZ meeting tomorrow, which helped NZ swap rates rise across the curve, says Nick Smyth at BNZ Markets. ...

Bond issue by Trustpower

Trustpower is offering up to NZ$75 million unsecured, unsubordinated, re-setting, fixed rate bonds to New Zealand institutional and retail investors, with the ability to accept up to NZ$25 million of oversubscriptions at Trustpower’s discretion. ...

Govt gilts upgraded

Credit rating agency S&P said that it had upgraded its rating outlook on the government from stable to positive. ...

Rates lower across curve

In NZ swap markets, rates were lower across the curve, following on from the dovish Fed statement and falls in US rates, says BNZ Markets. ...

Rates moving higher

Domestic rates ticked up yesterday, led by the front-end of the curve, amidst some profit-taking on received positions, said Nick Smyth at BNZ Markets. ...

Downwards bias

The NZ rates curve saw a little downward pressure in yields yesterday and that should be the bias for today as well, in response to the global forces overnight, says J]ason Wong at BNZ Markets ...

Sharp rise in NZ rates

NZ rates had another volatile session on Friday as the market continued to re-price after the exceptionally strong NZ employment report, says Nick Smyth at BNZ Markets. ...

Fonterra bonds offer closes

Fonterra Co-operative Group confirms that its offer of unsubordinated, unsecured fixed rate bonds has now closed and NZ$100,000,000 has been allocated to the participants (or their clients) in the bookbuild process. ...
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