About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds Other Sites:   depositrates.co.nz  |   landlords.co.nz
Last Article Uploaded: Thursday, September 18th, 9:07PM
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 4.60  
Based on a $50,000 deposit
More Rates »
News Bites
Latest Comments
  • Bank advice concerns questioned
    “Just out of interest Mike - where would you suggest they go and work? Presumably just not in QFEs? In any capacity? It's...”
    21 hours ago by interested observer
  • Bank advice concerns questioned
    “Just out of interest Mike - where would you suggest they go and work? Presumably just not in QFEs? In any capacity? It's...”
    22 hours ago by interested observer
  • Bank advice concerns questioned
    “Hi Mike, I think you are sharply understating the risks here of FMA directors and staff ultimately working for the banks...”
    23 hours ago by Brent Sheather
  • Action needed on DIMS
    “Perhaps rather than reminding AFAs to get their house in order, the FMA would be better off spending that time finalising...”
    1 day ago by MPT Heretic
  • Bank advice concerns questioned
    “R1 - this is why US regulators impose time restriction on staff leaving & working for firms they have regulated. This could...”
    2 days ago by Mike Naylor
Subscribe Now

Deposit Rates newsletter

Previous News

MORE NEWS»

Most Commented On
News Quiz

BNP Paribas Securities Services’ latest Asset Administration and Custody Review found worries about government regulation is causing how many to lose sleep?

50%

90%

33%

10%

67%

MORE QUIZZES »

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