The Treasury announces the syndicated tap of the 1.50% coupon 15 May 2031 nominal bond. Given the timing of the launch, the Treasury also announces the cancellation of tender no. 720 scheduled for 9 April 2020, which included the 15 April 2025, 15 April 2027 and 14 April 2033 nominal bonds.
The Treasury expects to issue at least $2.0 billion of the 15 May 2031 nominal bond. Initial price guidance is 32 to 37 basis points over the 20 April 2029 nominal bond.
The issue will be priced on Tuesday 7 April 2020, and further issuance of the new bond will not occur prior to June 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.
Kim Martin | Acting Director, Capital Markets
Tel: +64 4 890 7274
Matthew Collin | Head of Portfolio Management
Tel: +64 4 917 6015