Philip Combes
Treasurer
New Zealand Debt Management Office
The New Zealand Debt Management Office (NZDMO) today announced details for the introduction of tap tenders from 1 July 2008 and the regular bond tender schedule for the first quarter of 2008/09.
Bonds issued via tap tender will be within the 2008/09 Domestic Bond Programme of up to $3,400 million.
Tap tenders, which will allow the NZDMO to issue bonds at short notice outside the regular tender schedule, will be open to all institutions registered to bid in New Zealand government securities. Tenders will be conducted in accordance with the arrangements specified in the New Zealand Government Bonds Information Memorandum.
In assessing the need for a tap tender, the NZDMO will consider market conditions, feedback from market participants on specific investor interest and our own portfolio requirements.
Tap tender announcements will be made on the NZDMO’s Reuters and Bloomberg pages and the NZDMO website at the following times :
Tender announcement: 11.30am on the morning of the tender
Tender bids close: 2.30pm
Tender results announced: 3.00pm
Settlement date: Tender date plus three business days
Regular Bond Tender Schedule – July to September 2008
| Tender Number | Announcement Date | Tender Date | Settlement Date |
|---|---|---|---|
| 260 | 8 Jul 2008 | 10 Jul 2008 | 15 Jul 2008 |
| 261 | 15 Jul 2008 | 17 Jul 2008 | 22 Jul 2008 |
| 262 | 29 Jul 2008 | 31 Jul 2008 | 5 Aug 2008 |
| 263 | 12 Aug 2008 | 14 Aug 2008 | 19 Aug 2008 |
| 264 | 26 Aug 2008 | 28 Aug 2008 | 2 Sep 2008 |
| 265 | 16 Sep 2008 | 18 Sep 2008 | 23 Sep 2008 |
Regular tender announcements will continue to be made on the NZDMO’s Reuters and Bloomberg pages and the NZDMO website at the following times:
Tender announcement: 11.30am, two business days prior to the tender.
Tender bids close: 12.00pm
Tender results announced: 1.00pm
Settlement date: Tender date plus three business days
ENDS
Treasury Contacts
Philip Combes | Treasurer
Tel: +64 4 917 6133
Andrew Turner | Head of Portfolio Management
Tel: +64 4 917 6071