The A$175 million (US$132.3 million) transaction priced by Kiwibank (A/A1/AA-) on 7 March and that had been due to settle on 15 March has been cancelled. A statement issued by the deal’s lead manager, ANZ, says the bank “has been advised by Kiwibank… that [it] cannot proceed with the settlement” and that “regrettably no further information is forthcoming at this stage”. An issuer source declined to comment to KangaNews.