The New Zealand Debt Management Office (NZDMO) today announced that the 2010/11 domestic bond programme has been increased by $1.5 billion to a maximum of $15 billion to allow for continued regular issuance.
This announcement reflects the fact that the NZDMO is significantly ahead of its projected 2010/11 debt issuance track, having already completed $13.2 billion of the $13.5 billion programme announced in December.
The NZDMO will release a further update on its domestic bond programme in conjunction with the Government's Budget to be announced on 19 May 2011.
In response to market requests, effective from the tender to be held on 31 March 2011, the NZDMO will shorten the time between close of tender and the announcement of tender results to 15 minutes, or as soon as possible after that time.
Philip Combes | Treasurer
Tel: +64 4 917 6133
Andrew Turner | Head of Portfolio Management
Tel: +64 4 917 6071