Disclaimer - New Zealand Debt Management Office Web Site
- 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.
- 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.
- 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.
- 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.
- 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.
- 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.
- 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.
- Each page on this web site must be read in conjunction with this disclaimer and any other disclaimer that forms part of it.
- By clicking on "Acknowledge and Hide Disclaimer" below, I confirm that I am either:
- resident outside of the European Economic Area; or
- person acting solely in my capacity as an authorised representative of an entity falling within one of the following descriptions:
- 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;
- 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
- 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.
2009/10 Domestic Debt ProgrammeMedia Statement
28 May 2009
The New Zealand Debt Management Office (NZDMO) announced today details of the Government’s 2009/10 domestic debt programme.
The NZDMO intends to issue up to $8.5 billion of government bonds in 2009/10. To meet this funding requirement, the NZDMO expects to offer around $150 million to $200 million of bonds per week through a combination of regular weekly tenders and occasional tap tenders.
The Budget forecasts include bond programmes of $11.5 billion in 2010/11 and $15 billion in the 2011/12 and 2012/13 fiscal years.
The regular bond tender schedule for July to September 2009 will be released in late June.
Bond Switches and Tender Oversubscriptions
The NZDMO will shortly undertake market consultation on some new initiatives to improve bond market liquidity. These initiatives will initially include the use of bond switches and a review of tender oversubscription rules.
Since late December 2008, treasury bill issuance has increased from around $200 million to $500 million per week in three and six-month maturities. The one-year treasury bill may also be reintroduced if there is market demand and if it is cost effective to do so.
Given current demand, the NZDMO expects to continue issuing a combination of maturities totalling around $500 million of treasury bills per week. Ongoing issuance volumes will depend on investor interest and NZDMO’s short-term funding requirements.
Tel: +64 4 917 6133
Andrew Turner | Head of Portfolio Management
Tel: +64 4 917 6071