BNZ drops wholesale guarantee for latest five-year
- Thursday, 19 March 2009
Bank of New Zealand (AA/Aa2) (BNZ) launched New Zealand’s first bank deal not backed by the local wholesale guarantee since November last year on March 18, offering NZ$50 million (US$26.47 million) of five-year paper covered by the retail guarantee at a slight premium to its recent similar tenor deals with full sovereign backing.
