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News on New Investment

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Bank of New Zealand (“BNZ”) has announced an issue of Registered Transferable Deposits (RTDs) as it seeks to raise up to NZ$350,000,000, spread across fixed and floating rate tranches.  The summary terms of the issue are:

 

Floating Rate RTDs

 

Opening Date:

Tuesday, 19 March 2013

Closing Date:

Friday, 22 March 2013 (or such earlier date as the Issuer may determine at its discretion), at 11.00 am

Rate Set Date:

Friday, 22 March 2013

Issue Date:

Thursday, 28 March 2013 (or such earlier date as the Issuer may determine at its discretion)

Maturity Date:

Wednesday, 28 March 2018

Issue Amount:

Up to NZ$100,000,000

Oversubscriptions:

Up to NZ$250,000,000

Issuer Credit Rating:

AA- (Stable outlook) – S&P; Aa3 (Stable outlook) – Moody’s

Margin:

1.23% - 1.28%

Minimum Subscription:

NZ$5,000 and in multiples of NZ$1,000 thereafter

Lead Manager:

BNZ

 

Fixed Rate RTDs

 

Opening Date:

Tuesday, 19 March 2013

Closing Date:

Friday, 22 March 2013 (or such earlier date as the Issuer may determine at its discretion), at 11.00 am

Rate Set Date:

Friday, 22 March 2013

Issue Date:

Thursday, 28 March 2013 (or such earlier date as the Issuer may determine at its discretion)

Maturity Date:

Wednesday, 28 March 2018

Issue Amount:

Up to NZ$100,000,000

Oversubscriptions:

Up to NZ$250,000,000

Issuer Credit Rating:

AA- (Stable outlook) – S&P; Aa3 (Stable outlook) – Moody’s

Margin:

1.23 – 1.28%

Minimum Subscription:

NZ$5,000 and in multiples of NZ$1,000 thereafter

Lead Manager:

BNZ