Bonds
ASB to pay investors 3.31% per annum for $450 million five-year bond issue
5th Sep 18, 2:05pm
by
ASB will pay investors 3.31% per annum for $450 million it's borrowing via a five-year bond issue.
The interest rate on the fixed-rate bonds is based on a 1.02% margin over swap. The indicative margin was 1.00% to 1.05%.
The bank's currently offering a 4% five year term deposit rate for savers with a minimum deposit of at least $10,000.
ASB had been seeking to raise a minimum of $100 million, with the option of accepting unlimited over subscriptions. The unsecured, unsubordinated notes will be issued on September 7 and are expected to be quoted on the NZX Debt Market.
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