Westpac could sell next Asian covered bond.

The article reports on plans by the New Zealand subsidiary of Westpac Banking Corp. to issue a covered bond, following a $1 billion issue by Korea's Kookmin Bank. The company has reserved the company names Westpac NZ Covered Bond Ltd. and Westpac NZ Covered Bond Holdings Ltd., hinting at creating a covered bond program in New Zealand. The Reserve Bank of New Zealand have told Westpac that it is comfortable with covered bonds and that it will create a policy for these bonds in the near term.