On April 23, Asian Development Bank (ADB) (AAA/Aaa/AAA) priced an increase of its July 2017 Kauri line. The tap is the second increase to the line, which was introduced in July 2012 at a volume of NZ$250 million (US$209.7 million) with pricing of 56.2 basis points over New Zealand government bonds (NZGB). The line saw its first tap in January 2013, when ADB added NZ$400 million at 58.7 basis points over NZGB.