NZ govt to sell $2b of bonds

Mon, 06 Apr 2020

New Zealand’s debt management office is looking to issue $2 billion of the May 2031 nominal bond tomorrow. The syndicated tap comes after it jacked up the forecast bond programme to $25 billion, which means it needs to issue $17 billion between now and the end of June. Initial price guidance of the 1.50 percent coupon bond is 32 to 37 basis points over the 20 April 2029 nominal bond, which was recently at a bid yield of 1.015 percent. Further issuance of the new bond will not occur before June. Given the syndicated tap, the...

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