About Good Returns  |  Advertise  |  Contact Us  |  Terms & Conditions  |  RSS Feeds Other Sites:   depositrates.co.nz  |   landlords.co.nz
Last Article Uploaded: Wednesday, July 23rd, 1:47PM
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
ANZ 4.50  
Based on a $50,000 deposit
More Rates »
News Bites
Latest Comments
  • Advisers encouraged to take ethics courses
    “if this is compulsory, somebody is going to make a load of money. that's about as far as it will get. a leopard don't change...”
    10 hours ago by w k
  • Advisers encouraged to take ethics courses
    “The term "business ethics" baffles me. There should be no distinction between the ethical conduct of ones private life and...”
    13 hours ago by traveller
  • Support for guarantee proposal
    “Brent - yes, agree if investors need cash they should be in cash. Some form of guarantee could however be useful for investors...”
    21 hours ago by John Berry
  • Support for guarantee proposal
    “If the KiwiSaver issuers and advisers, advising on KiwiSaver were to simply state the expected maximum capital loss per annum...”
    21 hours ago by Realist
  • HSBC dumps sales targets
    “Yeah, right. And pigs can fly. ...”
    1 day ago by Dee1
Subscribe Now

Deposit Rates newsletter

Previous News

MORE NEWS»

Most Commented On
News Quiz

Of the following people who is not involved in Craigs Investment Partners new stand alone funds management company?

Simon Botherway

Stefan Stevanovic

James Ring

Andrew South

Roy Cross

MORE QUIZZES »

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