ADB Launches Inaugural New Zealand Dollar

ADB Launches Inaugural New Zealand Dollar Kauri Issue

MANILA, PHILIPPINES (28 January 2010) – The Asian Development Bank (ADB) last week launched its inaugural New Zealand dollar Kauri issue with the pricing of a NZD 225 million four-year bond. The proceeds will be part of ADB’s ordinary capital resources and used in its non-concessional operations.

The bonds will be issued on 29 January 2010.

The bonds, with a coupon rate of 5.375% per annum payable semiannually, and a maturity date of 29 January 2014, were priced at 99.804616% to yield 62 basis points over the 6.5% New Zealand government bond due April 2013.

The transaction was lead-managed by ANZ National Bank and Royal Bank of Canada Capital Markets. The book was evenly distributed with about 62% placed domestically and 38% placed offshore. By investor type, around 41% of the bonds were bought by financial institutions, 30% by fund managers, 24% central banks and the remainder by other investors such as middle-market institutions.

ADB plans to raise around $15 billion through the debt-market in 2010.

ADB is dedicated to reducing poverty in the Asia and Pacific region through pro-sustainable economic growth, social development and good governance. Established in 1966, it is owned by 67 members - 48 of which are from Asia and the Pacific region.

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