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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.

Government Securities Tendering Operations

Page updated 19 May 2008

From 7 April 2007, the New Zealand Debt Management Office (NZDMO) has assumed responsibility for the tendering of New Zealand Government Bonds and Treasury Bills from the Reserve Bank of New Zealand (RBNZ), which had previously acted as an agent for the NZDMO for many years.

This transfer is solely of the tendering of the primary issuance of government securities and does not include any of the other tendering operations currently conducted by the RBNZ.

From the market’s perspective, little has changed:

  • Austraclear will continue to be used to place bids and settle successful bids.
  • The NZDMO will continue to make all decisions on offerings for each tender and on the allotment of bids.

Some changes have been made to simplify the Operating Rules and Guidelines and registration criteria:

  • Bid limits and bid deposits have been eliminated.
  • The process for placing telephone bids has been simplified.
  • The registration process has been simplified.

Registration as a Bidding Counterparty

New institutions wishing to bid in government securities tenders will need to register as a bidding counterparty with the NZDMO.

To qualify for registration as a bidding counterparty with the NZDMO, applicant institutions must have a minimum credit rating of A-/A3, or have their obligations guaranteed by a parent entity with a minimum credit rating of A-/A3, or be a Crown financial institution. Please see Application for Registration as a Bidding Counterparty for further details.

Documents for Further Information

For further information on government bond and bill tenders, please see the following documents available for download below.

Documents are available for download in Adobe PDF format only. Using PDF Files
Doc. Date Title Download
18 Feb 2008 Information Sheet - Government Securities Tendering: Important Changes in Tendering Operations info-tendering-18feb08.pdf (35 KB)
May 2008 Application for Registration - Bidding Counterparty Government Securities Tenders
app-reg-biddingcounterparty-v2.pdf (85 KB)
15 May 2008 Operating Rules and Guidelines: Government Securities Tenders
Issued 15 May 2008.
operatingrules-15may08.pdf (85 KB)
25 Feb 2008 Information Memorandum - New Zealand Government Treasury Bills
Effective from 7 April 2008.
bills-memo-7apr08-v3.pdf (186 KB)
25 Feb 2008 Information Memorandum - New Zealand Government Bonds
Effective from 7 April 2008.
bonds-memo-7apr08-v3.pdf (194 KB)

Contact for Enquiries

Andrew Turner| Head of Portfolio Management
Tel: +64 4 917 6071
Email: andrew.turner@treasury.govt.nz
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