NIB launches second AUD 300 million transaction

Kari Kukka, Head of Funding at NIB, comments the Kangaroo bond: “NIB has met the investors in Australia early this year and we feel that doing two issues at this interval would show NIB’s responsiveness to this market, the domestic and offshore investors. NIB wants to be a responsible issuer in the capital markets where it participates, and offer investors AAA-quality liquid issues in different maturities.”

The response to the AUD issue has been very positive. The issue was executed in a 36-hour book-building period. In terms of geograhical distribution domestic Australian investors took 59% of the deal, while 41% was sold to investors in Asia. Asset managers account for 49% of total orders, followed by central banks 31%, financial institutions 17%, and governmental agencies 3%.