Bank of New Zealand signs covered bond documentation
- Thursday, 03 June 2010
Bank of New Zealand (AA/Aa2) (BNZ) has signed programme documentation for New Zealand's inaugural covered bond. Moody's Investors Service and Fitch will release their rating reports on the debut issue tomorrow. Transaction details are under wraps until then, but the bonds will be issued in structured format as the Reserve Bank of New Zealand (RBNZ) has yet to finalise legislation for the product.
