Issue date: 
Wednesday, 23 August 2017

Sarah Vrede
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
($ billion)
2.2 -3.5 0.5 -0.3 -5.1 -6.2
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.

ENDS

Treasury Contacts

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

Last updated: 
Wednesday, 23 August 2017