The New Zealand Debt Management Office (NZDMO) recently announced plans to begin repurchasing the 15 December 2017 nominal government bond in the 2016/17 fiscal year, with the amount repurchased depending on portfolio requirements and market conditions.1
The first reverse tap tender of the repurchase programme will be held on Wednesday 6 July 2016, with details as follows:
|Tender date||6 July 2016|
|Settlement date||11 July 2016|
|Bond to be repurchased||15 December 2017|
|Total volume||Up to $500 million|
|Tender close||2.00 pm (NZST)|
|Results announced||2.05 pm (NZST)|
Further reverse tap tenders will be announced depending on NZDMO’s portfolio requirements and market conditions. These announcements will be published on the Yieldbroker Auction System, Reuters (NZDMO08), Bloomberg (NZDMO7), and the NZDMO website. NZDMO will not issue media statements for further reverse tap tenders under this repurchase programme.
All technical questions relating to placing offers should be directed to the Yieldbroker Helpdesk on +61 2 9994 2800.
-  Refer the following Media Statement released in conjunction with the Budget 2016: https://www.nzdmo.govt.nz/analyst-centre/201617-domestic-bond-programme-set-70-billion.
Sarah Vrede | Director, Financial Operations and Head of NZDMO
Tel: +64 4 917 6071
Murray Jones | Head of Portfolio Management
Tel: +64 4 917 6075