20.10.2011
MuniFin returns to the New Zealand capital markets – and helped to plant rare trees
MuniFin has returned to the New Zeland Kauri markets after a three year pause. MuniFin issued a seven year fixed rate transaction through lead arranger BNZ - Bank of New Zealand. The bond amounted to NZD 75 million and was sold to local investors in the beginning of October.
An own flavor to the equation is brought by the fact that BNZ is a sponsor of the Kauri 2000 Trust programme. Kauri 2000 Trust programme has gotten its name from the rare New Zealand Kauri-tree which only grows in the country here and there. BNZ is committed to plant 100 Kauri-tree saplings for every Kauri bond issue they arrange. The goal is to plant 1000 trees per year. The new forest is planted in Kuaotunu which is located a three hour drive from Auckland. The growth of the forest can be followed through Google Earth.
