NZX Subordinated Notes

[Aaron]

Thanks Peat and GMT. I guess the minimum indicative range was further in the prospectus. 5.4% tied up for 15 years(or possibly 5 years). Not for me.

Another question for the bond market gurus.

Rabobank Perpetual Bonds (RCSHA) Rabo bank must have issued these at 8.43% why don't they issue new bonds at a much lower rate and redeem the perpetual bonds. I haven't made any effort to investigate this so don't put in too much effort on my behalf. It just seems odd that they are paying such a high rate. Maybe it is to do with their creditworthiness.

It is just that I use rabodirect and have a number of term deposits constantly roling over waiting for the big crash (GFC2) it would be a damn shame if Rabodirect were the first to close their doors in a crash before I could invest my savings.