Bond Issues

Indicative yields and prices as at 11:00 am, August 31, 2015

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 20172.47109.07-0.38
15 Mar 20192.56110.61-0.40
15 Apr 20202.65102.82-0.40
15 May 20212.72119.22-0.42
15 Apr 20232.89120.11-0.41

NZFMA

Maturity Quarterly Rate
3 mth bills2.91
1 year2.73
2 year2.80
3 year2.89
4 year3.00
5 year3.11
7 year3.33
10 year3.58

Fixed Rate Issues

 

Senior Bonds

Issuer Maturity
Date
Yield to
Maturity
Indicative Price Swap
Spread
Coupon Credit Rating Amt $m
Air New Zealand15 Nov 20163.82105.601.066.90Baa3150.0
ANZ National Bank18 Sep 20174.89AA-200.0
16 Feb 20186.85AA-250.0
20 Sep 20183.45110.260.536.08AA-125.0
27 Feb 20193.55106.170.605.43AA-400.0
APN Media (NZ)15 Mar 20167.86100.0
ASB Bank20 Oct 20153.05102.616.10AA-
08 Jun 20173.15106.350.346.06AA-315.0
20 Dec 20173.25103.570.404.48AA-400.0
15 Jun 20194.62108.291.646.65BBB+400.0
25 Feb 20203.70103.020.664.42AA-200.0
Auckland Council 29 Sep 20173.05109.680.226.52AA350.0
18 Dec 20183.11104.960.174.41AA125.0
24 Sep 20203.36104.780.274.02AA250.0
25 Mar 20245.81AA+200.0
Auckland International Airport07 Nov 20153.197.25A-100.0
15 Nov 20163.09108.090.338.00A-130.0
17 Oct 20173.20106.650.365.47A-100.0
13 Dec 20193.55105.860.534.73A-100.0
28 May 20213.90110.210.765.52A-150.0
Bank of New Zealand15 Jul 20163.00103.055.73AA-
28 Mar 20183.35105.230.484.68AA-
20 Dec 20186.10AA-200.0
25 Jun 20195.57AA-200.0
18 Jun 20204.43AA-575.0
China Construction Bank (New Zealand)18 Jun 20183.72102.400.834.32A75.0
Christchurch International Airport06 Dec 20193.90106.060.885.15BBB+50.0
04 Oct 20214.25113.161.086.25BBB+75.0
Contact Energy 13 Apr 20177.86BBB100.0
15 May 20193.90107.300.935.80BBB222.0
15 Nov 20214.40BBB125.0
Fonterra Co-operative Group04 Mar 20163.06101.826.83A150.0
20 Oct 20214.33A350.0
Genesis Energy15 Mar 20163.35105.797.65BBB+105.0
Goodman Fielder New Zealand16 May 20167.54250.0
Goodman Property Trust23 Jun 20224.150.925.00BBB+100.0
Infratil15 Nov 20194.55109.061.546.7568.5
15 Jun 20224.70112.931.476.85100.0
Kiwi Income Property Trust 20 Aug 20214.35109.271.196.15125.0
Kiwibank15 Dec 20174.45104.111.605.80BB+150.0
Meridian Energy16 Mar 20173.45109.620.667.55BBB+75.0
NZ Government15 Dec 20172.47109.07-0.386.00AA+10261.0
15 Mar 20192.56110.61-0.405.00AA+7428.0
15 Apr 20202.65102.82-0.405.00AA+2000.0
15 May 20212.72119.22-0.426.00AA+11644.0
15 Apr 20232.89120.11-0.415.50AA+1754.0
NZ Local Govt Funding Agency15 Dec 20172.94107.980.096.00AA+250.0
15 Mar 20193.06108.790.105.00AA+50.0
15 Apr 20203.20100.280.153.00AA+20.0
15 May 20213.33115.530.196.00AA+215.0
15 Apr 20233.57114.850.275.50AA+65.0
15 Apr 20273.98106.490.344.50AA+200.0
NZ Post Group Finance15 Nov 20194.65108.271.646.35BB+200.0
Powerco28 Sep 20173.71107.410.886.74BBB50.0
Precinct Properties New Zealand Ltd17 Dec 20214.30107.891.115.5475.0
Rabobank New Zealand01 Mar 20163.25101.087.04AA-100.0
16 May 20183.50108.900.616.25AA-
15 Mar 20193.73110.640.776.10AA-0.0
10 Jun 20203.900.004.59A+200.0
Sky Network Television31 Mar 20216.25100.0
Spark Finance Ltd22 Mar 20163.20105.207.04A-150.0
Tauranga City Council15 Apr 20163.05104.316.25A+50.0
The Warehouse Group15 Jun 20204.30105.381.245.30125.0
Transpower15 Feb 20173.00105.360.225.60AA-150.0
30 Nov 20185.14AA-125.0
10 Jun 20203.55116.350.496.95AA-150.0
Transpower New Zealand Ltd06 Sep 20194.65AA-200.0
30 Jun 20224.30AA-75.0
15 Mar 20234.00111.830.705.45AA-50.0
15 Mar 20284.60114.910.885.89AA-100.0
TrustPower 15 Dec 20164.40106.281.638.0065.0
15 Dec 20174.00108.341.157.1075.0
15 Sep 20194.50109.671.506.75140.0
15 Dec 20214.35108.181.165.63125.0
Wellington International Airport15 May 20214.34112.391.206.25BBB+
Westpac New Zealand10 Feb 20173.10105.880.327.02AA-
20 Sep 20185.55AA-800.0
12 Jul 20193.60107.940.625.61AA-100.0
Z Energy15 Oct 20163.90106.561.157.35147.0
15 Aug 20183.95109.611.047.25150.0
15 Nov 20194.05110.111.046.50135.0

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
Genesis Energy after 20388.5015 Jul 20165 yr swap plus4.12BB+275.0
IAG15 Dec 20367.5015 Dec 20165 year swap3.78BBB+325.0
Infratil15 Nov 20174.451.618.0039.7

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 May 20164.559.0015 May 201619.5
15 May 20164.507.7515 May 201678.0
15 Mar 20174.501.717.5015 Mar 201768.3
NZF Group15 Mar 20166.0015 Mar 201618.0
TrustPower 15 Dec 20155.008.4015 Dec 2015100.0
Fletcher Building Industries15 Mar 20184.201.337.1544.1
15 Mar 20194.451.495.4075.0
Infratil15 Nov 20155.108.5015 Nov 2015152.8
15 Jun 20164.408.5015 Jun 2016100.0
15 Jun 20174.401.598.5015 Jun 201766.3
15 Feb 20204.601.578.5020 Feb 202080.5

Capital Bond

Issuer Maturity
Date
Yield to
Maturity
Indicative Price Swap
Spread
Coupon Credit Rating Amt $m
Fletcher Building Industries15 Mar 20204.65107.311.615.8093.2
Infratil15 Nov 20184.50107.881.576.85111.4
Vector15 Jun 20174.20106.321.397.00BB+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 BankPerpetual104.005.2818 Apr 20185 yr swap plus 2.00ContinuousBBB+835.0
Credit Agricole S.A.Perpetual79.205.0419 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
Cynotech HoldingsPerpetual9.25Continuous1.8
Quayside HoldingsPerpetual103.505.8812 Mar 20173 yr swap plus1.70Continuous200.0
Rabo Capital SecuritiesPerpetual108.808.3418 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
Sky Network Television16 Oct 20164.4316 Oct 20151 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 GroupPerpetual100.505.5910 Jul 20151 yr NZGS plus1.70ContinuousA-35.0
InfratilPerpetual69.004.3315 Nov 20141 yr swap plus1.50Continuous238.0
Rabobank Nederland08 Oct 203795.204.5908 Oct 20151 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 CapitalPerpetual87.005.0415 Nov 20151 yr swap plus 1.30ContinuousBBB149.0
ASB Capital No 2Perpetual85.004.3415 May 20161 yr swap plus 1.00ContinuousBBB245.7
Motor Trade Finances Perpetual65.206.2601 Oct 20151 yr swap plus 2.40Continuous40.0
Origin Energy Contact Finance No. 2 Perpetual100.105.2815 Oct 20151 yr swap plus1.50ContinuousBB+200.0

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 20167.2115 Jun 20161 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 $m
Nufarm Finance NZ (A$)16 Apr 20166.6415 Apr 20166m 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