Director, Financial Operations and Head of NZDMO
In conjunction with the Pre-election Economic and Fiscal Update 2017, the New Zealand Debt Management Office (NZDMO) has updated its New Zealand Government Bond (NZGB) programmes.
The 2017/18 NZGB programme, along with forecast bond programmes, remain unchanged from those announced at the Budget Economic and Fiscal Update 2017.
Forecast NZGB issuance and outstandings
|Year ending 30 June (face value)||2017||2018||2019||2020||2021||Total|
|Gross NZGB issuance ($billion)||8.0||7.0||7.0||7.0||6.0||35.0|
|NZGB maturities and repurchases ($ billion)||5.8||10.5||6.5||7.3||11.1||41.1|
|Net NZGB issuance
|NZGBs on issue ($ billion)||74.4||70.9||71.5||71.2||66.1|
|NZGBs on issue (percent of GDP)||27.7%||25.1%||24.1%||22.9%||20.5%|
As announced at Budget 2017:
- Subject to market conditions, a new 20 April 2029 nominal bond is expected to be launched, via syndication, before 31 December 2017.
- NZDMO plans to commence a repurchase programme of the 15 March 2019 nominal bond in the current fiscal year. NZDMO plans to repurchase up to $5.0 billion of these bonds in 2017/18, depending on portfolio requirements and market conditions.
Sarah Vrede | Director, Financial Operations and Head of NZDMO
Tel: +64 4 917 6937
Murray Jones | Head of Portfolio Management
Tel: +64 4 917 6075