On 1 April, Heartland Bank (BBB by Fitch) launched a five-year deal for up to NZ$75 million (US$51.1 million), with the ability to take oversubscriptions, to institutional and New Zealand retail investors. The forthcoming deal has an indicative margin of 175-190 basis points over mid swap, with the final margin and interest rate to be set on 5 April.
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