About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds Other Sites:   depositrates.co.nz  |   landlords.co.nz
Last Article Uploaded: Friday, July 31st, 5:42PM
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
TSB Bank 4.00  
Based on a $50,000 deposit
More Rates »
News Bites
Latest Comments
  • Obituary - Bob Edwards
    “I had the experience of working closely across the table from Bob as an AXA representative negotiating adviser terms with...”
    16 hours ago by Ros Hogguer
  • HSBC does it again
    “Great rate - but it's important to point out that there is no cash contribution. Today I negotiated a $10,000 cash contribution...”
    24 hours ago by Laurie
  • FMA takes action against Milford trader
    “Goodness me, if the FMA are going to prosecute for “trading that manipulates the closing price” and “trading conducted...”
    1 day ago by Brent Sheather
  • Massey calls for Act overhaul
    “At the risk of boring those professionals who actually take note and read stuff, I'd again like to point out that the various...”
    2 days ago by Tash
  • RFAs backing call for one law for all
    “A single standard is sensible but this is the old trick with polls and employed by all political parties crusaders and other...”
    2 days ago by P Jones
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