Source: New Zealand Treasury:
The Treasury announces the launch of a new 0.50% coupon 15 May 2026 nominal bond. Given the timing of the launch, the Treasury also announces the cancellation of the tender scheduled for 4 February 2021, which included the 15 April 2025, 20 April 2029, and 14 April 2033 nominal bonds, and the 20 September 2040 inflation-indexed bond.
The Treasury expects to issue at least NZ$2.0 billion of the 15 May 2026 nominal bond and the transaction will be capped at NZ$4.0 billion. Initial price guidance is 14 to 18 basis points over the 15 April 2025 nominal bond.
The issue will be priced on Thursday 4 February 2021, and further issuance of the new bond will not occur prior to May 2021.
Commonwealth Bank of Australia; Deutsche Bank AG, Sydney; UBS AG, Australia; and Westpac Banking Corporation, New Zealand; are Joint-Lead Managers for the issue.
Acting Director, Capital Markets
+64 4 890 7274
Head of Portfolio Management
+64 4 917 6015
Wednesday, 3 February 2021