NZDM maintains the ability to issue two types of Foreign Currency debt, Euro Medium Term Notes (EMTN) and Euro Commercial Paper (ECP). We have EMTN documentation in place to enable longer-dated foreign currency issuance, with a programme limit of US$8 billion, as well as ECP documentation for short-dated foreign currency issuance with a programme limit of US$15 billion. We have not issued under our EMTN documentation since 2004, but maintain at least US$1 billion of ECP on issue.
The current ECP Dealers are:
- Barclays Bank PLC
- Citigroup Global Markets Limited
- Goldman Sachs International
- UBS AG, London Branch