Scoop has an Ethical Paywall
Rabobank Nederland sets rate
Rabobank Nederland sets rate and sees 100% take-up of
NZ$900m in capital securities offer
Triple A rated Rabobank Nederland (Coöperatieve Centrale Raiffeisen-Boerenleenbank B.A.) today announced that its NZ$900 million offer of Capital Securities has closed fully subscribed. Final demand for the Capital Securities substantially exceeded NZD1 billion, ensuring the full take up of the securities.
The initial interest rate for the first 12 months was set today at 9.482% reflecting the margin of 0.76% over the one year swap rate. The interest rate will be reset annually on each 8 October until 2016 at the 0.76% margin over the prevailing one year swap rate. After that, the interest rate will be reset quarterly at the same margin over the prevailing 90-day bank bill rate.
The Capital Securities are unsecured, subordinated obligations of Rabobank Nederland and the minimum holding amount is $5,000. Application has been made to NZX for permission to list the Capital Securities and all the requirements of NZX relating thereto that can be complied with on or before the date of this release have been duly complied with. However, NZX accepts no responsibility for any statement in this release.
ENDS
University of Auckland: Scientists Develop Tool To Monitor Coastal Erosion In Fine Detail
Oji Fibre Solutions: OjiFS Proposes To Discontinue Paper Production At Kinleith Mill
Hugh Grant: Navigating Digital Adoption In New Zealand - Embracing Change For A Bright Future
Dawn Aerospace: Historic Flight - Breaks Sound Barrier And Global Records
SEEK: SEEK NZ Employment Report - October
University of Auckland: Protecting Young Minds With AI
