Rabobank says strong investor demand for its latest New Zealand bond offer has convinced it to increase the offer’s size by NZ$50 million to NZ$250 million. Patrick Mitchell, Rabobank's head of long-term funding for the Asia-Pacific, told interest.co.nz the offer size was being raised. “Due to strong investor demand it will increase to NZ$250m in total,” Mitchell said. Rabobank, one of the country's biggest rural lenders and a subsidiary of Dutch banking giant Rabobank Groep, opened the offer of three-year fixed rate senior bonds on Monday. Mitchell said the money raised would be used to help fund the bank’s New Zealand operations. The offer closed on Wednesday and the bonds will be issued next Monday, April 19. They mature on April 19, 2013. The offer's lead managers are Commonwealth Bank of Australia, ANZ National Bank and Bank of New Zealand. This was first published this morning in our Daily Banking and Finance newsletter, which is for our paying subscribers. Find out more here.
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