Specialist rural lender Rabobank has launched a fixed rate, three-year New Zealand bond offer that's expected to seek about NZ$200 million with most of the bonds going to institutional, or professional, investors.
Rabobank, which has an Aaa credit rating from Moody's and an AA rating from Standard & Poor's after a downgrade from the highest possible AAA rating late last year, has appointed ANZ and Westpac as joint lead managers.
Moody's now has its Rabobank rating on "rating under review down" as part of a sweeping review of its credit ratings on 114 financial institutions in 16 European countries.
The offer is being made through Rabobank Nederland's New Zealand Branch.See Rabobank's bond issuer page here. Rabobank New Zealand also has bonds on issue, see details here.
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