The Treasury has announced details of the regular New Zealand Government Bond (NZGB) tender schedule for the month of December 2023. Formal confirmation of each tender, including bond lines and volume per line, occurs on announcement dates.
Nominal Bond Tenders
For each weekly tender, the specific nominal bond lines, and volume per line, offered will be within the following ranges:
|Issuance range ($m)
|Apr-25 to May-30
|May-31 to May-34
|Apr-37 to May-51
Inflation-Indexed Bond (IIB) Tenders
IIB tenders are scheduled for the same dates as nominal bond tenders, subject to demand and market conditions. IIB tender details will be announced alongside nominal bond tender announcements.
- Tenders are governed by the official Operating Rules and Guidelines, which were updated, effective 28 November 2023. These guidelines now state that NZGB tender announcements will be at 11:30am NZT on the first business day of the week of the tender. No other updates were made to the Operating Rules and Guidelines.
- The preference will be to fill tenders according to volumes confirmed on the announcement date, to the extent possible.
- The update to the forecast core Crown borrowing programme will be published in conjunction with the Half Year Economic and Fiscal Update 2023 (HYEFU) which will occur before 31 December 2023. The January 2024 tender schedule will be published at 8am NZT the day after HYEFU.