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New Zealand Debt Management

Additional Issue of 20 September 2035 Inflation-Indexed Bond, and Repurchase of 20 September 2025 Inflation-Indexed Bond, Announced

The Treasury has today announced that NZ$2.5 billion of 20 September 2035 inflation-indexed New Zealand Government Bonds have been issued via syndicated tap. Concurrent to the tap, NZ$1.5 billion of 20 September 2025 inflation-indexed New Zealand Government Bonds have been repurchased.

The 2035 inflation-indexed bonds, which carry a coupon of 2.50%, was issued at a spread of 57 basis points over the 20 September 2030 inflation-indexed bond, at a yield to maturity of 2.19%. Total book size, at final price guidance, exceeded NZ$3.5 billion.

The 2025 inflation-indexed bonds, which carry a coupon of 2.00%, was repurchased at a spread of 126 basis points under the 20 September 2030 inflation-indexed bond, at a yield to maturity of 0.36%.

Settlement for both the tap, and repurchase, will occur on 31 August 2022. There will be no further issuance of the 20 September 2035 inflation-indexed bond prior to November 2022.
 

Treasury Contacts
 

Kim Martin
Head of New Zealand Debt Management
+64 4 890 7274
Kim.Martin@treasury.govt.nz

Matthew Appleby
Acting Head of Funding, Investment and Markets
+64 4 831 4629
Matthew.Appleby@treasury.govt.nz
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