Rabo soaks up NZ retail demand
Rabobank sold NZ$900 million of perpetual capital securities to investors in New Zealand at the end of last week, up from a planned offer of NZ$400 million, the Dominion Post reported.Retail investors bought about 75 per cent of the bonds with institutional, or professional, investors taking the rest.The securities are expected to pay an interest rate set at 76 basis points above the one year swap rate.