The Treasury has announced details of the regular New Zealand Government Bond (NZGB) tender schedule for the month of November 2024. Formal confirmation of each tender, including bond lines and volume per line, occurs on announcement dates.
Nominal Bond Tenders
Tender | Bond | Volume ($m) | Announcement | Tender | Settlement |
---|---|---|---|---|---|
926 | Nominal | 500 | 04-Nov-24 | 07-Nov-24 | 12-Nov-24 |
927 | Nominal | 500 | 11-Nov-24 | 14-Nov-24 | 19-Nov-24 |
928 | Nominal | 500 | 18-Nov-24 | 21-Nov-24 | 26-Nov-24 |
929 | Nominal | 500 | 25-Nov-24 | 28-Nov-24 | 03-Dec-24 |
For each weekly tender, the specific nominal bond lines, and volume per line, offered will be within the following ranges:
Maturity | Issuance range ($m) |
---|---|
May-26 to May-31 | 150-300 |
May-32 to May-35 | 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.
Repurchase Tenders
A repurchase programme for the 20 September 2025 IIB will commence in November 2024. Details for the repurchase tenders in November are below. Formal confirmation of each repurchase tender occurs on announcement dates.
Tender | Bond | Maturity | Volume ($m) | Announcement | Tender | Settlement |
---|---|---|---|---|---|---|
8053 | Inflation-indexed | 20-Sep-25 | Up to 200 | 05-Nov-24 | 06-Nov-24 | 11-Nov-24 |
8054 | Inflation-indexed | 20-Sep-25 | Up to 200 | 19-Nov-24 | 20-Nov-24 | 25-Nov-24 |
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.
- Repurchase tenders will open at 2.00pm NZT and close at 2.30pm NZT, with results announced from 2.35pm NZT. Repurchase tenders will be allocated according to a ‘multi-price’ auction mechanism. As with prior repurchase programmes, should pricing not meet internal requirements, the volume may not be fully allocated. Further repurchase tenders are dependent on portfolio requirements and market conditions.
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]