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Two sell NZ$ debt

World Bank added NZ$175 million to its December 2014 global kauri last week, priced at 25 basis points over New Zealand government bonds and about 12 bps over swap. The top-up took outstandings to NZ$475 million. Also, Auckland International Airport finalised its five-year retail bond issue at the end of the week before last. The bonds will pay a coupon of 7.0 per cent. AIA would rank as one of the most prolific issuers in the New Zealand market. According to our records, it currently has NZ$530 million of bonds outstanding with maturities ranging from July 2011 to November 2016.

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