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World Bank Announces Largest New Zealand Dollar Global Bond to Date

Washington, DC, February 5, 2013 – Today, the World Bank (International Bank for Reconstruction and
Development, IBRD rated Aaa/AAA) priced a new NZD 500 million 5-year fixed-rate global bond.

This is the largest single tranche Kauri bond by an issuer in the Supranational/Sovereign/Agency (SSA) asset class to be priced to date and brings the World Bank’s outstanding total to almost NZD 3 billion. This transaction marks the return of the World Bank to New Zealand’s domestic market after its July 2012 offering.

The bonds were distributed to a broad range of institutional investors in New Zealand (53%), Asia (46%), and Europe (1%) with about 20 orders from central banks and other official institutions, commercial banks, and fund managers.

The joint-lead managers for the transaction were ANZ Bank NZ Ltd and Bank of New Zealand.

Joint lead manager quotes:

“The Kauri market is a strategic market for us and we are pleased to be able to offer investors a new point on the yield curve. We are extremely grateful with the reception our bonds have received by investors in this market over the years.” said Andrea Dore, Lead Financial Officer, Capital Markets at the World Bank.

“We are delighted to be involved in the return of the World Bank to the Kauri Market this year. This transaction highlights the continued development of the Kauri market which has been fostered and supported by the World Bank since issuing the first SSA Kauri in 2007,” said Glen Sorensen, Director Syndicate at ANZ in Wellington.

“It is very pleasing to see the Kauri market deliver a record transaction for the World Bank. With issuing conditions very supportive thus far in 2013, the deal captured a broad range of buying interest and a general theme of increased appetite for NZD product. We’re delighted to be part of this transaction for such a premier issuer as the World Bank,” said Mike Faville, Head of Debt Capital Markets at BNZ in Auckland.

Note: Data Source (statement from Kanganews)

Summary terms and conditions:

NZD *500 million
Settlement date:
February 20, 2013
Maturity date:
February 20, 2018
Issue price/re-offer price:
3.688% semi-annual
3.625% semi-annual
Minimum Subscription:
NZD 1,000, within New Zealand NZD 500,000
NZD 1,000 and multiples thereof;
within New Zealand, NZD 100,000 with multiples of NZD1,000 thereafter
Registered notes
Luxembourg Stock Exchange
Clearing systems:
NZ Clear and Euroclear

Distribution charts:


* On August 20, 2013, IBRD agreed to increase the principal amount with a second tranche in the amount of NZD 350 million with an issue price of 96.064260% (settlement date: August 29, 2013). The new total outstanding principal amount is NZD 850 million. 

Investor Distribution of the NZD 350 million Increase:
By Geography By Investor Type
New Zealand
Banks / Corporates
Central Banks / Official Institutions
Asset Managers
Insurance / Pension Funds


About the World Bank

The World Bank (International Bank for Reconstruction and Development, IBRD), rated Aaa/AAA (Moody’s/S&P), is an international organization created in 1944. It operates as a global development cooperative owned by 188 nations. It provides its members with financing, expertise and coordination services so they can achieve equitable and sustainable economic growth in their national economies and find effective solutions to pressing regional and global economic and environmental problems. The overriding goal is to achieve major, sustainable improvements in standards of living worldwide. It has been issuing bonds in the international capital markets for over 60 years to fund its activities. Information for investors is available on the World Bank Treasury website: (www.worldbank.org/debtsecurities).


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