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BNG returns and BNZ tops-up

As for other domestic issuance, KangaNews reported early in the week a A$230 million, four year, private placement undertaken by Bank Nederlandse Gemeenten. BNG was last seen in this market three years ago but had been a frequent issuer between June 2002 and November 2006. The AAA rated BNG still has A$950 million of bonds outstanding from these previous issues but issued NZ$250 million of September 2010 bonds in New Zealand in September 2007, and added another NZ$100 million to the line in March last year. Staying in New Zealand, Bank of New Zealand added NZ$150 million at 93 bps over New Zealand government bonds, to take outstandings to NZ$275 million. This is the second addition to the line since opening in May 2005.BNZ also issued NZ$85 million of FRNs with a maturity date of 20 September 2012. The FRNs priced at 93 bps over the bank bills.

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