The Treasury announces the launch of a new 1.75% coupon 15 May 2041 nominal bond. Given the timing of the launch, the Treasury also announces the cancellation of the tender scheduled for 16 July 2020, which included the 15 April 2025, 15 May 2031 nominal bonds and 20 September 2040 inflation-indexed bond.
The Treasury expects to issue at least $2.0 billion of the 15 May 2041 nominal bond. Initial price guidance is 29 to 36 basis points over the 15 April 2037 nominal bond.
The issue will be priced on Tuesday 14 July 2020, and further issuance of the new bond will not occur prior to October 2020.
Bank of New Zealand; J.P. Morgan; UBS AG, Australia; and Westpac Banking Corporation, New Zealand; are Joint-Lead Managers for the issue.
Acting Director, Capital Markets
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Head of Portfolio Management
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