Sarah Vrede
Acting Deputy Secretary, Financial Operations and Head of NZDMO
In conjunction with the Budget Economic and Fiscal Update 2015, the New Zealand Debt Management Office (NZDMO) has updated its domestic bond programme.
The 2015/16 domestic bond programme is set at $8.0 billion, $1.0 billion higher than forecast at the Half Year Economic and Fiscal Update (HYEFU) 2014.
Forecast bond programmes beyond 2015/16 remain unchanged, with both gross and net issuance a total $1.0 billion higher compared with the HYEFU 2014.
Forecast Domestic Bond Programmes
| Budget 2015 ($billion, face value) |
2014/15 | 2015/16 | 2016/17 | 2017/18 | 2018/19 | Total |
|---|---|---|---|---|---|---|
| Gross bond issuance | 8.0 | 8.0 | 7.0 | 7.0 | 7.0 | 37.0 |
| Repayment of market bonds | 8.7 | 1.2 | 0.0 | 11.3 | 11.5 | 32.7 |
| Net bond issuance | -0.7 | 6.8 | 7.0 | -4.3 | -4.5 | 4.3 |
Further details:
- Issuance for the remainder of 2014/15 is planned to be in line with the previously-announced Government Bond Tender Schedule for quarter ending 30 June 2015.
- Subject to market conditions, a new 14 April 2033 nominal bond is expected to be launched, via syndication, in the first half of 2015/16.
- Inflation-indexed bond issuance will be up to $2.0 billion of the $8.0 billion 2015/16 domestic bond programme.
- Treasury bill outstandings are expected to average $4 billion over the forecast period.
ENDS
Treasury Contacts
Sarah Vrede | Acting Acting Deputy Secretary, Financial Operations and Head of NZDMO
Tel: +64 4 917 6071
Murray Jones | Acting Head of Portfolio Management
Tel: +64 4 917 6075