Issue date: 
Tuesday, 15 December 2009

Embargoed until 1pm

Philip Combes
Treasurer, New Zealand Debt Management Office

The New Zealand Debt Management Office (NZDMO) announced today an increase in the 2009/10 government bond programme from $8.5 billion to $10.5 billion, having issued $6.8 billion of bonds since 1 July 2009.

The increase to the programme provides flexibility for continued regular issuance should market conditions remain favourable.

The forecast bond programmes are now $10.5 billion in 2010/11, $12.5 billion in each of the years 2011/12 and 2012/13, and $7.5 billion in 2013/14.

Compared to Budget 2009 forecasts, there is an $8 billion reduction in the total net borrowing requirement over the years 2009/10 to 2012/13. Bond maturities in the forecasts are now assumed to be $4 billion higher due to the decision to increase bond tranche sizes announced on 10 December. As a result, the total gross borrowing requirement of $46 billion over the four year period ending 30 June 2013 is $4 billion below Budget estimates.

ENDS

Treasury Contacts

Philip Combes | Treasurer
Tel: +64 4 917 6133

Andrew Turner | Head of Portfolio Management
Tel: +64 4 917 6071

Last updated: 
Friday, 8 July 2016