The Treasury announces the syndicated tap of the 4.50% coupon 15 April 2027 nominal bond. Given the timing of the launch, the Treasury also announces the cancellation of the tender scheduled for 27 August 2020, which included the 15 April 2025, 15 May 2031, 15 April 2037 nominal bonds and 20 September 2040 inflation-indexed bond.
The Treasury expects to issue at least $2.0 billion of the 15 April 2027 nominal bond, with the transaction capped at $4.0 billion. Initial price guidance is 18 to 22 basis points over the 15 April 2025 nominal bond.
The issue will be priced on 25 August 2020, and further issuance of the new bond will not occur prior to November 2020.
ANZ Bank New Zealand Limited; Bank of New Zealand; Commonwealth Bank of Australia; and UBS AG, Australia Branch; are Joint-Lead Managers for the issue.
Acting Director, Capital Markets
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Head of Portfolio Management
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