Issue date: 
Wednesday, 24 August 2016

The New Zealand Debt Management Office (NZDMO) announces the launch of a new 2.75% coupon 15 April 2037 nominal bond by way of syndication. Given the timing of the launch, NZDMO also announces the cancellation of the 14 April 2033 nominal government bond tender scheduled for 25 August 2016.

The NZDMO will issue between $1.0 billion and $2.0 billion, with the transaction capped at $2.0 billion.  Initial price guidance is 25 to 31 basis points over the 14 April 2033 nominal bond.

The issue is expected to be priced on Thursday 25 August 2016 (NZST), and further issuance of the new bond will not occur prior to December 2016.

Citigroup Global Markets Australia Pty Limited; Commonwealth Bank of Australia; UBS AG, Australia Branch; and Westpac Banking Corporation (acting through its New Zealand Branch) are Joint-Lead Managers for the issue.

As this transaction is capped at $2.0 billion, the book may close at short notice. 

 

ENDS

Treasury Contacts

Sarah Vrede | Director, Financial Operations and Head of NZDMO
Tel: +64 4 917 6071

Murray Jones | Head of Portfolio Management
Tel: +64 4 917 6075

Last updated: 
Wednesday, 24 August 2016