Immediate Release
Philip Combes
Treasurer
New Zealand Debt Management Office
Introduction of Earthquake Kiwi Bond
As announced by the Minister of Finance, Hon. Bill English, in today's Budget, the government has introduced a new four-year Earthquake Kiwi Bond. The interest rate on the Earthquake Kiwi Bond is 4.00 percent per annum. The rates for the other maturities remain unchanged.
Kiwi Bond interest rates are set periodically from moving averages of domestic wholesale rates.
The Kiwi Bond rates are as follows:
For subscriptions of $1,000 - $500,000
| Maturity | Rate |
|---|---|
| 6 months | 2.25 percent per annum |
| 1 year | 2.50 percent per annum |
| 2 years | 3.00 percent per annum |
|
Earthquake Kiwi Bond |
|
| 4 Years | 4.00 percent per annum |
ENDS
Treasury Contact
Valerie Jeal | Investor Relations Manager
Tel: +64 4 471 5911