NWB Bank issues first Kauri Bond
NWB Bank has for the first time issued a bond under local New Zealand law, a 5-year NZD 250 million SDG Housing Bond. The proceeds of this and other SDG Housing Bonds are used for the financing of affordable, and sustainable social housing in the Netherlands.
In total, NWB Bank has now issued more than €20 billion in ESG bonds (Environmental, Social and Governance), making NWB Bank the largest issuer of sustainable bonds in the Netherlands. Internationally, the bank is considered a leading issuer of ESG bonds within the SSA (Sovereigns, Supranationals, and Agencies) space.
The NZD 250 million SDG Housing Bond was issued under NWB Bank’s AUD 10 billion Kangaroo/Kauri Debt Issuance Program. The 5-year bond will settle on the 1st of March 2022 and be repaid in full on the 1st March 2022. The bond has a semi-annual coupon of 3.125% and a re-offer price of 99.747595%, for a re-offer yield of 3.180%. Lead managers for this transaction areANZ, BNZ and TD.