The New Zealand Debt Management Office (NZDMO) announces the launch of a new 2.50% coupon 20 September 2040 inflation-indexed bond by way of syndication. Given the timing of the launch, NZDMO also announces the cancellation of the 20 September 2035 inflation-indexed government bond tender scheduled for 9 March 2017.
The NZDMO will issue between $1.0 billion and $1.5 billion, with the transaction capped at $1.5 billion. Initial price guidance is 20 to 27 basis points over the 20 September 2035 inflation-indexed bond.
The issue is expected to be priced on Friday 3 March 2017 (NZST), and further issuance of the new bond will not occur prior to July 2017.
ANZ Bank New Zealand Limited, Deutsche Bank AG, Sydney Branch; 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 $1.5 billion, the book may close at short notice.
Andrew Hagan | Acting Director, Financial Operations and Head of NZDMO
Tel: +64 4 917 6937
Murray Jones | Head of Portfolio Management
Tel: +64 4 917 6075