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Rabobank pays interest on application moneys
Rabobank Nederland pays interest on application moneys
for NZ$900m in capital securities
Triple A rated Rabobank Nederland (Coöperatieve Centrale Raiffeisen-Boerenleenbank B.A.) today announced that it has now paid the interest on application moneys for its NZ$900 million in Capital Securities, with a broad range of investors taking up the offer. The interest on application moneys was for the period from when the funds were accepted until the issue date of the securities, and was paid at a rate of 8.25%.
The Capital Securities saw a broad range of demand with 9,600 investors taking part in the initial launch on 8 October. Final demand for the Capital Securities had substantially exceeded NZD1 billion. Demand continues to outweigh supply as seen in the trading price of the Capital Securities which stood at 102.35% at the close of business on 15 October.
While Rabobank Nederland is not considering the issue of further Capital Securities in New Zealand at this time, it does continue to offer attractive returns for a one year fixed rate of 8.65% through AAA rated Rabobank New Zealand Limited's online savings facility, RaboPlus. The RaboPlus Term Deposit Investment Statement is available at www.RaboPlus.co.nz.
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