New Zealand Debt Management Office Accessibility Skip to content. Skip to navigation

You are here: Home > Data and Publications > Media Statements > Domestic Debt Programme > Increase to the 2008/09 Domestic Debt Programme and Introduction of a New Government Bond (4 May 2009)

Skip to content. | Skip to navigation

Personal tools
 

International securities regulations require that visitors read and acknowledge the disclaimer below before accessing information on this web site. Click Acknowledge and Hide Disclaimer below to hide the full disclaimer (requires JavaScript to be enabled).

Disclaimer - New Zealand Debt Management Office Web Site

  1. The information on this web site is issued by the New Zealand Debt Management Office (NZDMO) for informational purposes. It does not contain and is not an invitation or offer to buy or sell securities. Insofar as this web site refers to any offerings of securities, such offerings are directed to countries other than the United States and no offerings are made to persons accessing this web site within Australia.
  2. The NZDMO takes reasonable measures to ensure the quality of the data and other information produced by the NZDMO that is made available on this web site. However, the NZDMO makes no warranty, express or implied, nor assumes any legal liability or responsibility for the accuracy, correctness, completeness or use of any information that is available on or through this web site nor represents that its use would not infringe on privately owned rights. Further information contained on this web site is subject to change, completion or amendment without notice. Nothing contained on this web site is, or shall be relied on as a promise or representation by the New Zealand Government or the NZDMO as to the past or future. The contents of this web site should not be construed as legal, business or tax advice.
  3. This is a protected New Zealand Government web site. It is unlawful to intentionally cause damage to it or to any NZDMO electronic facility or data through the knowing transmission of any program, information, code, or command.
  4. The NZDMO systems to which this web site connects and related equipment are subject to monitoring. Information regarding users may be obtained and disclosed to authorised personnel, including law enforcement authorities, for official purposes. Access to or use of this web site constitutes consent to these terms.
  5. Reference to any specific commercial product, process, or service by trade name, trademark, manufacture, or otherwise does not constitute an endorsement, recommendation, or favouring by the New Zealand government or the NZDMO.
  6. For convenience and informational purposes only, the NZDMO server provides links to other web sites. These sites may contain information that is the copyright of third parties and subject to restrictions on reuse. Permission to use copyrighted materials must be obtained from the copyright owner and cannot be obtained from the NZDMO.
  7. The NZDMO is not responsible for the content of other web sites linked to or referenced from the NZDMO site. The NZDMO neither endorses the information, content, presentation, or accuracy of such web sites, nor makes any warranty, express or implied, regarding these external web sites.
  8. Each page on this web site must be read in conjunction with this disclaimer and any other disclaimer that forms part of it.
  9. By clicking on "Acknowledge and Hide Disclaimer" below, I confirm that I am either:
    1. resident outside of the European Economic Area; or
    2. person acting solely in my capacity as an authorised representative of an entity falling within one of the following descriptions:
      1. a legal entity authorised or regulated to operate in the financial markets, including: a credit institution, or investment firm, an other authorised or regulated financial institution, or insurance company, a collective investment scheme, a collective scheme management company, a pension fund, a pension fund management company, a commodity dealer, or an entity not so authorised or regulated but whose corporate purpose is solely to invest in securities;
      2. a national or regional government, a central bank, an international or supranational institution such as the International Monetary Fund, the European Central Bank, the European Investment Bank or other similar international organisations; or
      3. a legal entity which has two or more of (1) an average of at least 250 employees during the last financial year; (2) a total balance sheet of more than €43,000,000 and (3) an annual net turnover of more than €50,000,000, as shown in its last annual or consolidated accounts.

Disclaimer: The information on this web site is issued by the New Zealand Debt Management Office (NZDMO) for informational purposes. It does not contain and is not an invitation or offer to buy or sell securities. Each page on this web site must be read in conjunction with the disclaimer at http://www.nzdmo.govt.nz.

Increase to the 2008/09 Domestic Debt Programme and Introduction of a New Government BondMedia Statement

4 May 2009

Philip Combes
Treasurer, New Zealand Debt Management Office

Domestic Debt Programme

The New Zealand Debt Management Office (NZDMO) announced today that it is ahead of its projected 2008/09 debt issuance track, having already completed $4.1 billion of the $4.5 billion programme announced in December.

To allow for continued regular issuance of around $150 million per week for the remainder of the fiscal year, the 2008/09 domestic bond programme has been increased by $1 billion to a maximum of $5.5 billion.

The 2009/10 domestic debt programme will be announced on 28 May 2009 in conjunction with the Government’s 2009 Budget.

Introduction of a New Long Bond

At the next bond tender on 7 May 2009, the NZDMO will introduce a new government bond with a maturity of 15 May 2021.  The coupon rate on the bond will be announced with the tender composition on 6 May 2009.

Feedback from consultations with market participants supports the introduction of a new longer-maturity bond.  The new bond will, over time, re-establish the ten-year point on the government bond curve. 

Tender Timing

In response to market requests, from 5 May 2009 the NZDMO will shorten the time between the close of tenders and the announcement of results to 30 minutes. In addition, all tenders for government securities will now be held later in the day to make tenders more accessible to Asian-based investors.

The new times for all bond and treasury bill tenders are:

Tender announced 11.30 am NZ time on business day prior to the tender
Tender close 2.00 pm NZ time
Tender results announced 2.30 pm NZ time

Tender information will continue to be announced on NZDMO’s Reuters (NZDMOINDEX) and Bloomberg pages (NZDM) and on the NZDMO web-site at www.nzdmo.govt.nz.

ENDS

Treasury Contacts

Phillip Combes | Treasurer
Tel: +64 4 917 6133

Andrew Turner | Head of Portfolio Management
Tel: +64 4 917 6071
Page top