About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds Other Sites:   depositrates.co.nz  |   landlords.co.nz
Last Article Uploaded: Friday, December 19th, 10:08AM
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 4.50  
RaboDirect 4.50  
Based on a $50,000 deposit
More Rates »
News Bites
Latest Comments
  • Fund brings active and passive together
    “Hi Bobby WTF indeed but the WTF should be directed to MJW who may well be on serious drugs. SmartFONZ actually returned,...”
    55 minutes ago by Brent Sheather
  • Fund brings active and passive together
    “I don't read MJW but FundSource correctly has FNZ ETF returning 2.8% for the Sept quarter. Happy to send you a copy of the...”
    1 hour ago by samstanley
  • Fund brings active and passive together
    “Regardless of timing the launch of the Harbour Advanced Beta Fund is a huge achievement. Well done to Jody, Andrew and team...”
    2 hours ago by samstanley
  • Fund brings active and passive together
    “The MJW September 2014 Survey shows that the Smart Shares Top 50 Fund returned -0.3% for the September quarter, while the...”
    4 hours ago by Bobby
  • QFEs call for simplification
    “Of course RFA/AFA/QFE is confusing. This will be the umpteenth time this has been suggested. 1. Qualification for each category...”
    15 hours ago by w k
Subscribe Now

Deposit Rates newsletter

Previous News

MORE NEWS»

Most Commented On
News Quiz

A well-commented on story last week mooted that many authorised financial advisers are out of their depths discussing what with their clients?

bonds

death

divorce

piles

birth control

MORE QUIZZES »

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