Bond Issues

Indicative yields and prices as at 11:00 am, August 24, 2016

In the listings of bonds below the Government stock and swap rates, click on the maturity date to go to a full description of the bond and click on the issuer name to go to the issuer page.

Fixed rate issues   |   Yearly reset issues   |   Floating rate issues

NZ Government Stock and NZ Interest Rate Swap Rates

 

NZ Government Stock

Maturity Yield to
Maturity
Indicative Price $ Swap
Spread
15 Dec 20171.72106.61-0.29
15 Mar 20191.71110.35-0.35
15 Apr 20201.72105.52-0.39
15 May 20211.74120.88-0.43
15 Apr 20231.84124.76-0.41
15 Apr 20252.00106.85-0.35
14 Apr 20332.45115.460.29

NZFMA

Maturity Quarterly Rate
3 mth bills2.23
1 year1.99
2 year1.96
3 year1.97
4 year2.01
5 year2.07
7 year2.21
10 year2.41

Fixed Rate Issues

 

Senior Bonds

Issuer Maturity
Date
Yield to
Maturity
Indicative Price Swap
Spread
Coupon Credit Rating Amt $m
Air New Zealand15 Nov 20164.20102.356.90Baa3150.0
ANZ National Bank18 Sep 20174.89AA-200.0
16 Feb 20186.85AA-250.0
20 Sep 20182.80109.070.766.08AA-125.0
27 Feb 20192.90108.700.845.43AA-400.0
25 Sep 20203.141.004.03AA-225.0
22 Mar 20214.00AA-325.0
ASB Bank08 Jun 20172.55103.926.06AA-315.0
20 Dec 20172.60103.140.594.48AA-400.0
15 Jun 20194.60106.512.526.65BBB+400.0
25 Feb 20203.05106.640.944.42AA-200.0
Auckland Council 29 Sep 20172.35107.040.356.52AA350.0
18 Dec 20182.61105.120.564.41AA125.0
30 Mar 20203.04AA250.0
24 Sep 20202.60107.050.464.02AA250.0
25 Mar 20245.81AA+200.0
27 Jul 20263.25100.910.843.34AA160.0
Auckland International Airport15 Nov 20162.60103.328.00A-130.0
17 Oct 20172.50105.190.505.47A-100.0
13 Dec 20192.80106.890.704.73A-100.0
13 Dec 20192.80106.890.704.73A-100.0
28 May 20212.95112.560.785.52A-150.0
09 Nov 20223.10107.770.874.28A-100.0
Bank of New Zealand28 Mar 20182.65104.970.634.68AA-
20 Dec 20182.80108.400.756.10AA-200.0
25 Jun 20195.57AA-200.0
18 Jun 20203.171.054.43AA-575.0
15 Jun 20233.55103.991.294.10AA-100.0
China Construction Bank (New Zealand)18 Jun 20183.50102.121.474.32A75.0
Chorus Limited06 May 20213.50102.781.344.12BBB400.0
Christchurch International Airport06 Dec 20193.00107.700.905.15BBB+50.0
04 Oct 20213.45115.331.276.25BBB+75.0
Contact Energy 13 Apr 20177.86BBB100.0
15 May 20193.15106.951.085.80BBB222.0
15 Nov 20213.52105.031.334.40BBB125.0
Fonterra Co-operative Group20 Oct 20214.33A-350.0
07 Mar 20233.691.444.42A-150.0
Genesis Energy18 Mar 20224.14BBB+100.0
Goodman Property Trust23 Jun 20223.551.335.00BBB+100.0
Infratil15 Nov 20194.15108.332.056.7568.5
15 Jun 20224.70113.942.486.85100.0
15 Sep 20234.702.435.2560.0
Kiwi Income Property Trust 20 Aug 20213.50112.001.326.15125.0
Kiwibank15 Dec 20174.30102.872.295.80BB+150.0
Meridian Energy16 Mar 20173.00105.737.55BBB+75.0
14 Mar 20233.50107.891.254.53BBB+150.0
NZ Government15 Dec 20171.72106.61-0.296.00AA+10261.0
15 Mar 20191.71110.35-0.355.00AA+7428.0
15 Apr 20201.72105.52-0.395.00AA+2000.0
15 May 20211.74120.88-0.436.00AA+11644.0
15 Apr 20231.84124.76-0.415.50AA+1754.0
15 Apr 20252.00106.85-0.352.75AA+1700.0
14 Apr 20332.45115.460.293.50AA+2000.0
NZ Local Govt Funding Agency15 Dec 20172.34105.970.336.00AA+250.0
15 Mar 20192.43108.650.375.00AA+50.0
15 Apr 20202.53102.940.423.00AA+20.0
15 May 20212.63116.970.466.00AA+215.0
15 Apr 20232.82118.930.575.50AA+65.0
15 Apr 20273.23113.830.794.50AA+200.0
NZ Post Group Finance15 Nov 20194.40107.412.306.35BB+200.0
Powerco28 Sep 20173.00104.971.006.74BBB50.0
Precinct Properties New Zealand Ltd17 Dec 20213.55110.481.365.5475.0
Rabobank New Zealand16 May 20182.85107.300.826.25AA-
15 Mar 20196.10AA-0.0
10 Jun 20203.150.004.59A+200.0
Sky City Entertainment Group28 Sep 20223.701.474.65BBB-125.0
Sky Network Television31 Mar 20216.25100.0
Spark Finance Ltd10 Mar 20234.51100.0
The Warehouse Group15 Jun 20203.65107.541.535.30125.0
Transpower15 Feb 20172.60101.965.60AA-150.0
30 Nov 20185.14AA-125.0
10 Jun 20202.80116.170.686.95AA-150.0
Transpower New Zealand Ltd06 Sep 20194.65AA-200.0
30 Jun 20223.01107.480.794.30AA-75.0
15 Mar 20233.10116.140.855.45AA-50.0
15 Mar 20283.75122.421.275.89AA-100.0
TrustPower 15 Dec 20164.00102.638.0065.0
15 Dec 20173.90105.701.897.1075.0
15 Sep 20193.85109.501.766.75140.0
15 Dec 20213.75109.971.565.63125.0
Wellington International Airport15 May 20213.50114.181.336.25BBB+75.0
12 May 20233.65104.641.394.25BBB+75.0
05 Aug 20244.00BBB+60.0
Westpac New Zealand10 Feb 20172.60102.207.02AA-
20 Sep 20185.55AA-800.0
12 Jul 20192.95107.870.875.61AA-100.0
28 Apr 20213.25103.481.093.80AA-700.0
01 Sep 20214.70BBB+400.0
Z Energy15 Oct 20164.00102.987.35147.0
15 Aug 20183.65107.401.617.25150.0
15 Nov 20193.70109.011.606.50135.0

Subordinated Callable Bonds

Issuer Maturity
Date
Yield to
Reset Date
Swap
Spread
Coupon Coupon Reset Date Coupon Base Coupon Margin Credit Rating Amt $m
ANZ National Bank02 Mar 20177.6015 Mar 20125 yr swap plus0.76A-250.0
IAG15 Dec 20367.5015 Dec 20165 year swap3.78BBB+325.0
Infratil15 Nov 20174.302.308.0039.7

Convertible Bonds

Issuer Election or
Conversion Date
Yield to
Election/
Conversion
Swap
Spread
Coupon Next Call Credit Rating Amt $m
ANZ National Bank25 May 20207.2025 May 2020BBB-250.0
Fletcher Building Industries15 Mar 20174.007.5015 Mar 201768.3
TrustPower 15 Dec 20158.408.4015 Dec 2015100.0
Fletcher Building Industries15 Mar 20183.901.887.1544.1
15 Mar 20193.951.895.4075.0
IAG15 Jun 20225.1515 Jun 2022BBB350.0
Infratil15 Jun 20244.802.495.5056.1
15 Jun 20166.008.5015 Jun 2016100.0
15 Jun 20174.258.5015 Jun 201766.3
15 Feb 20204.402.298.5020 Feb 202080.5

Capital Bond

Issuer Maturity
Date
Yield to
Maturity
Indicative Price Swap
Spread
Coupon Credit Rating Amt $m
Fletcher Building Industries4.00104.301.844.75100.0
15 Mar 20203.95108.521.845.8093.2
Infratil15 Nov 20184.25105.982.206.85111.4
The Cooperative Bank Ltd28 Jul 20216.00BB+30.0
Vector15 Jun 20174.40103.257.00BB+307.2

Perpetual Callable Bonds

Issuer Maturity Date Price Current
Coupon
Coupon
Reset Date
Coupon
Base
Coupon
Margin
Next
Call
Credit Rating Amt $m
ANZ National BankPerpetual102.755.2818 Apr 20185 yr swap plus 2.00ContinuousBBB+835.0
Credit Agricole S.A.Perpetual92.005.0419 Dec 20175 yr swap plus 1.90ContinuousBB+250.0

Redeemable Preference Shares

Issuer Maturity Date Price Current
Coupon
Coupon
Reset Date
Coupon
Base
Coupon
Margin
Next
Call
Credit Rating Amt $m
Quayside HoldingsPerpetual5.8812 Mar 20173 yr swap plus1.70Continuous200.0
Rabo Capital SecuritiesPerpetual8.3418 Jun 20195 yr swap plus3.75ContinuousBBB-280.0

Structured Credit

Issuer Maturity
Date
Yield to
Maturity
Indicative Price Swap
Spread
Coupon Credit Rating Amt $m

Yearly Reset Issues

 

Senior Bonds

Issuer Maturity Date Price Current
Coupon
Coupon
Reset Date
Coupon
Base
Coupon
Margin
Next
Call
Credit Rating Amt $m
Bank of New Zealand17 Dec 2025103.515.3117 Dec 20205 year swap2.251608116400BBB+550.0
Sky Network Television16 Oct 20163.3815 Oct 20161 yr swap plus 0.65Continuous200.0

Perpetual Callable Bonds

Issuer Maturity Date Price Current
Coupon
Coupon
Reset Date
Coupon
Base
Coupon
Margin
Next
Call
Credit Rating Amt $m
Fonterra Co-operative GroupPerpetual96.004.6910 Jul 20162.742.20ContinuousBBB+35.0
InfratilPerpetual4.2615 Nov 20161 yr swap plus1.50Continuous238.0
Rabobank Nederland08 Oct 20373.4908 Oct 20161 yr swap plus 0.76ContinuousBBB-900.0

Redeemable Preference Shares

Issuer Maturity Date Price Current
Coupon
Coupon
Reset Date
Coupon
Base
Coupon
Margin
Next
Call
Credit Rating Amt $m
ASB CapitalPerpetual81.504.0015 Nov 20161 yr swap plus 1.30ContinuousBBB149.0
ASB Capital No 2Perpetual76.003.2015 May 20171 yr swap plus 1.00ContinuousBBB245.7
Motor Trade Finances Perpetual5.1130 Sep 20161 yr swap plus 2.40Continuous40.0

Redeemable Convertible Preference Shares

Issuer Election or Conversion Date Price Current
Coupon
Coupon
Reset Date
Coupon
Base
Coupon
Margin
Next
Call
Credit Rating Amt $m
Works Finance (NZ)15 Jun 20166.2915 Jun 20171 yr swap plus4.05Continuous200.0

Floating Rate Issues

 

Subordinated Callable Bonds

Issuer Maturity Date Price Current
Coupon
Coupon
Reset Date
Coupon
Base
Coupon
Margin
Next
Call
Credit Rating Amt $m

Convertible Bonds

Issuer Election or Conversion Date Price Current
Coupon
Coupon
Reset Date
Coupon
Base
Coupon
Margin
Next
Call
Credit Rating Amt $m
Nufarm Finance NZ (A$)15 Apr 20176.3615 Apr 20176m A$ BBSW plus 3.90ContinuousBB251.0

Structured Credit

Issuer Maturity Date Price Current
Coupon
Coupon
Reset Date
Coupon
Base
Coupon
Margin
Next
Call
Credit Rating Amt $m