About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds Other Sites:   depositrates.co.nz  |   landlords.co.nz
Last Article Uploaded: Saturday, August 29th, 8:30AM
rss
Latest Headlines

Westpac to sell World Bank bonds

Westpac is to distribute a new retail investment product from the World Bank, the world's largest development organisation.

Wednesday, June 18th 2008, 10:15PM
Westpac is to distribute a new retail investment product from the World Bank, the world's largest development organisation.

Westpac Head of Debt Capital Markets Rod Smith says this investment will appeal to socially responsible institutional and retail investors.

"The notes offer financial and social returns, providing a good return from an AAA/Aaa issuer plus the chance to make a difference in developing countries by investing in the World Bank's funding programme," Smith says.

The notes are senior unsecured obligations of is International Bank for Reconstruction and Development (IBRD) and are not obligations of any Government. The minimum holding of notes is $5,000.

Interest on the notes will be set on July 14 and will be the Base Rate of the four year swap rate less the margin.

The indicative margin is -34 basis points to -36 basis points.

The interest rate would be 7.22% to 7.24% if set today.

The World Bank is an international organisation, established in 1945 and owned by its 185 member countries (including New Zealand). As a global development cooperative, the World Bank's purpose is to work with its borrowing members so they can achieve equitable and sustainable economic growth in their national economies and find effective solutions to pressing regional and global problems.

"This offering gives New Zealanders the chance to invest their money with the world's largest development organisation. They can earn both a financial and social return by supporting the World Bank's financing in a wide variety of social and ethically responsible sectors, such as environment, health and education," World Bank Global Head of Capital Markets Doris Herrera-Pol says.

The offer will open on June 23 for a period of 3 weeks.

« Dominion Finance seeks moratoriumAnother fin coy bond offer »

Special Offers

Commenting is closed

 

print

Printable version  

print

Email to a friend
Today's Best Bank Rates
RaboDirect 3.90  
Based on a $50,000 deposit
More Rates »
News Bites
Latest Comments
  • Former Mike Pero broker banned
    “Unfortunately Heath did willingly sign a franchise agreement with Mike Pero. He was aware of the terms and conditions when...”
    1 day ago by I was wondering
  • nib plots more growth
    “This is great news, however from my own personal experience nib can't handle the business flows it has at the moment. Their...”
    1 day ago by I was wondering
  • Two advisers investigated
    “Perhaps we're finally going to see a bank adviser and his/her employers facing the music? If it is, it's been a long time...”
    1 day ago by I was wondering
  • Home loan lending takes lower prominence at ASB
    “Hi. Does this mean ASB will focus even more on the growth of there insurance business on taking my clients. Will they continue...”
    1 day ago by Cyril
  • New Zealand lagging on decumulation options
    “I thought it was compulsory in the UK for a person reaching retirement age and receiving a company pension for a good percentage...”
    1 day ago by traveller
Subscribe Now

Deposit Rates newsletter

Previous News

MORE NEWS»

Most Commented On
News Quiz

The maximum remuneration model for Australian life insurance advisers is to be set at what?

Upfront 40% + trail 20%

Upfront 50% + trail 10%

Upfront 50% + trail 20%

Upfront 60% + trail 10%

Upfront 60% + trail 20%

MORE QUIZZES »

About Us  |  Advertise  |  Contact Us  |  Terms & Conditions  |  Privacy Policy  |  RSS Feeds  |  Letters  |  Archive  |  Toolbox
 
Site by Web Developer and eyelovedesign.com