Bank of New Zealand (BNZ) has sold NZ$415 million ($261 million) of fixed rate 2014 bonds at 60 basis points over swap, lead manager BNZ Capital said on Friday. The bonds carried a coupon of 4.775 percent and a price of 96.360169, giving a yield of 5.68 percent. Settlement is on July 7 and the bonds mature on February 20, 2014.
The sale took the total size of the February 2014 line to NZ$700 million. BNZ is New Zealand's third-largest lender and is owned by National Australia Bank, Australia's largest lender.