NZDMO’s first sale of inflation-indexed bonds since 1999 draws $4B of bids

Wed, 24 Oct 2012

By Paul McBeth Oct. 24 (BusinessDesk) - The New Zealand Debt Management Office sold $2.5 billion of inflation-indexed bonds in the first auction of the securities since 1999. The debt matures in 2025 and was overbid, attracting more than $4 billion in demand, and sold at a real yield of 1.96 percent, the DMO said in a statement. The notes carry a coupon of 2 percent. The sale amounts to more than half the $4 billion inflation-linked debt programme flagged for the 2013 and 2014 fiscal years. The DMO said it plans to embark on a primary issu...

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