ADB and Meridian debut in New Zealand 25 January 2010 5:32PM Philip Bayley In New Zealand, Asian Development Bank made its Kauri debut, raising NZ$225 million for four years, priced at 22 basis points over swap. The issue was opened at NZ$150 million.There was also news of a retail bond issue from Meridian Energy. The electricity generator and retailer is seeking to raise NZ$150 million, with oversubscriptions up to NZ$50 million being acceptable.The renewable energy bonds will be offered in tranches of five and seven years,with the bookbuild closing at the end of this month and the offer opening in February. To the best of our knowledge this is Meridian's first retail bond issue. It has an ongoing domestic note issue and it has A$100 million of February 2012 bonds outstanding in Australia.Offshore, Westpac New Zealand was the only issuer, raising US$500 million in the US s144A market. The funds were raised for three years and priced at 120 bps over US Treasury bonds.