Source: New Zealand Treasury:
The Treasury announces the launch of a new 0.50% coupon 15 May 2024 nominal bond. Given the timing of the launch, the Treasury also announces the cancellation of the tender scheduled for 18 June 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 2024 nominal bond. Initial price guidance is 9 to 12 basis points over the 15 April 2023 nominal bond. If required, Treasury will provide an update to the 2019/20 New Zealand Government Bond Programme following the syndication.
The issue will be priced on Tuesday 16 June 2020, and further issuance of the new bond will not occur prior to September 2020.
ANZ Bank New Zealand Limited; Deutsche Bank AG, Sydney Branch; J.P. Morgan Securities Australia Limited; and Westpac Banking Corporation (acting through its New Zealand 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