Immediate Release
Deputy Secretary, Financial Operations and Head of NZDMO
Changes to Kiwi Bond Interest Rates
The New Zealand Debt Management Office today announced changes to the interest rates for Kiwi Bonds effective from 2 April 2014. The interest rates for the six-month and one-year Kiwi Bonds have increased by 0.5% from 2.00% to 2.50% and from 2.25% to 2.75% respectively. The rates for the the two-year Kiwi Bonds and the four-year Earthquake Kiwi Bonds have increased by 0.25% from 2.75% to 3.00% and from 3.25% to 3.50% respectively.
Kiwi Bond interest rates are set periodically from moving averages of domestic wholesale rates. The new rates have been set in response to recent changes in wholesale market interest rates.
The Kiwi Bond rates are as follows:
For subscriptions of $1,000 - $500,000
| Maturity | Rate |
|---|---|
| 6 months | 2.50 percent per annum |
| 1 year | 2.75 percent per annum |
| 2 years | 3.00 percent per annum |
Earthquake Kiwi Bond
| Maturity | Rate |
|---|---|
| 4 years | 3.50 percent per annum |
ENDS
Treasury Contact
Valerie Jeal | Investor Relations Manager
Tel: +64 4 471 5911