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2020/21 Funding Strategy - at a glance

2020/21 Funding Strategy - at a glance

The Treasury's New Zealand Debt Management function has the objective of minimising the Crown's borrowing costs over the long-term with due consideration to risk, while ensuring ongoing access to debt funding markets.


  • Monthly tender schedules announced in advance, with multiple bonds offered per weekly tender.
  • Forecast inflation-indexed bonds issuance of NZ$1 billion to NZ$2 billion.
  • Increased syndicated issuance expected, including syndicated taps.
  • New NZGB 2041 syndication expected in July, and NZGB 2027 syndicated tap expected in August.
  • Enhanced communication channels to support continued focus on diversification of the investor base.

2020/21 New Zealand Government Bond (NZGB) programme forecasts

Pie chart shows gross NZGB issuance totalling NZ$60 billion, split by product type. NZ$10b, Gross NZGB issuance.

Achieving a balance between the following three goals

Infographic shows three goals of the Funding Strategy.

Guiding principles underpinning the strategy

  • Transparent
  • Consistent
  • Even-handed
Last updated: 
Friday, 24 July 2020