New Zealand Debt Management Office
The New Zealand Debt Management Office (NZDMO) today announced that it had selected the following banks for its inflation-indexed bond syndication panel:
|Joint Lead Managers||Co-Managers|
|Deutsche Bank AG||RBS plc Australia Branch|
|UBS Investment Bank|
Over the coming weeks, NZDMO will work with the syndicate to develop the necessary syndication documentation. Once documentation has been agreed, the syndicate will be formally appointed.
The new bond is expected to be a 20 September 2025 maturity. The timing of the launch would be November 2010 at the earliest, but will depend on market conditions.
Any issuance of inflation-indexed bonds prior to 30 June 2011 would form part of the $12.5 billion domestic bond programme announced at Budget 2010.
Inflation-indexed bonds are intended to provide long-term cost-effective funding for the Government and to provide investors with a hedge against inflation.
Philip Combes | Treasurer
Tel: +64 4 917 6133
Andrew Turner | Head of Portfolio Management
Tel: +64 4 917 6071