The Treasury has announced details of the regular New Zealand Government Bond (NZGB) tender schedule for the month of May 2024. Formal confirmation of each tender, including bond lines and volume per line, occurs on announcement dates.
Nominal Bond Tenders
| Tender | Bond | Volume ($m) | Announcement | Tender | Settlement |
|---|---|---|---|---|---|
| 902 | Nominal | 500 | 29-Apr-24 | 02-May-24 | 07-May-24 |
| 903 | Nominal | 500 | 06-May-24 | 09-May-24 | 14-May-24 |
| 904 | Nominal | 500 | 13-May-24 | 16-May-24 | 21-May-24 |
| 905 | Nominal | 500 | 20-May-24 | 23-May-24 | 28-May-24 |
| 906 | Nominal | 500 | 27-May-24 | 31-May-24 | 06-Jun-24 |
For each weekly tender, the specific nominal bond lines, and volume per line, offered will be within the following ranges:
| Maturity | Issuance range ($m) |
|---|---|
| Apr-25 to May-31 | 150-300 |
| May-32 to May-34 | 150-300 |
| Apr-37 to May-54 | 0-150 |
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.
Further Details
- Tenders are governed by the official Operating Rules and Guidelines. The preference will be to fill tenders according to volumes confirmed on the announcement date, to the extent possible.
- Subject to market conditions, it is expected that a syndicated tap of the existing 15 May 2028 will be undertaken in June 2024. Further details, including the syndicate panel, will be announced in subsequent updates. As per usual practice, if the syndication occurs, the tender that is scheduled in the same week will be cancelled.
- The update to the forecast core Crown borrowing programme will be published in conjunction with the Budget Economic and Fiscal Update 2024 on 30 May 2024. Consequently, the June 2024 monthly tender schedule will be published at 8am (NZT) on 31 May 2024.
ENDS
Treasury Contacts
Paxton McKenzie | Head of Funding, Investment and Markets
Tel: +64 4 917 6925
[email protected]
Kim Martin | Director, New Zealand Debt Management
Tel: +64 4 890 7274
[email protected]