Bond Issues

Indicative yields and prices as at 11:00 am, December 6, 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 20171.87106.97-0.24
15 Mar 20192.14107.68-0.12
15 Apr 20202.35102.98-0.04
15 May 20212.52115.590.00
15 Apr 20232.79117.480.05
15 Apr 20253.0599.610.07
14 Apr 20333.58103.141.09
15 Apr 2037

NZFMA

Maturity Quarterly Rate
3 mth bills2.04
1 year2.10
2 year2.27
3 year2.46
4 year2.64
5 year2.81
7 year3.08
10 year3.34

Fixed Rate Issues

 

Senior Bonds

Issuer Maturity
Date
Yield to
Maturity
Indicative Price Swap
Spread
Coupon Credit Rating Amt $m
ANZ National Bank18 Sep 20174.89AA-200.0
16 Feb 20186.85AA-250.0
20 Sep 20183.00106.570.806.08AA-125.0
27 Feb 20193.10106.330.845.43AA-400.0
25 Sep 20203.65102.341.214.03AA-225.0
22 Mar 20213.75101.851.254.00AA-325.0
02 Sep 20213.9598.701.403.33AA-200.0
01 Sep 20233.71AA-150.0
ASB Bank08 Jun 20172.55104.646.06AA-315.0
20 Dec 20172.70103.760.594.48AA-400.0
15 Jun 20194.95105.172.666.65BBB+400.0
25 Feb 20203.40104.341.034.42AA-200.0
Auckland Council 29 Sep 20172.40104.416.52AA350.0
18 Dec 20182.65105.410.424.41AA125.0
30 Mar 20203.04AA250.0
24 Sep 20203.10104.120.664.02AA250.0
25 Mar 20245.81AA+200.0
27 Jul 20264.2095.791.073.34AA160.0
Auckland International Airport17 Oct 20172.60102.985.47A-100.0
13 Dec 20193.20106.510.854.73A-100.0
13 Dec 20193.20106.510.854.73A-100.0
28 May 20213.65107.841.135.52A-150.0
09 Nov 20224.00102.151.314.28A-100.0
Bank of New Zealand28 Mar 20182.80103.170.654.68AA-
20 Dec 20183.05108.770.826.10AA-200.0
25 Jun 20195.57AA-200.0
18 Jun 20203.50105.141.094.43AA-575.0
15 Jun 20234.10AA-250.0
China Construction Bank (New Zealand)18 Jun 20183.75102.701.584.32A75.0
Chorus Limited06 May 20214.10100.051.594.12BBB400.0
Christchurch International Airport06 Dec 20193.45107.231.105.15BBB+50.0
04 Oct 20214.10110.451.546.25BBB+75.0
Contact Energy 13 Apr 20177.86BBB100.0
15 May 20193.60105.541.325.80BBB222.0
15 Nov 20214.20100.971.624.40BBB125.0
Fonterra Co-operative Group20 Oct 20214.33A-350.0
07 Mar 20234.50101.571.774.42A-150.0
Genesis Energy18 Mar 20224.14BBB+100.0
Goodman Property Trust23 Jun 20224.401.755.00BBB+100.0
Infratil15 Nov 20194.25106.501.916.7568.5
15 Jun 20225.40109.692.756.85100.0
15 Sep 20235.60100.112.815.2560.0
Kiwi Income Property Trust 20 Aug 20214.25109.411.706.15125.0
07 Sep 20234.6597.521.864.00125.0
Kiwibank15 Dec 20174.40103.912.295.80BB+150.0
Meridian Energy16 Mar 20172.80102.827.55BBB+75.0
14 Mar 20234.55102.381.824.53BBB+150.0
NZ Government15 Dec 20171.87106.97-0.246.00AA+10261.0
15 Mar 20192.14107.68-0.125.00AA+7428.0
15 Apr 20202.35102.98-0.045.00AA+2000.0
15 May 20212.52115.590.006.00AA+11644.0
15 Apr 20232.79117.480.055.50AA+1754.0
15 Apr 20253.0599.610.072.75AA+1700.0
14 Apr 20333.58103.141.093.50AA+2000.0
15 Apr 20372.75AA+2000.0
NZ Local Govt Funding Agency15 Dec 20172.25106.510.146.00AA+250.0
15 Mar 20192.62106.350.365.00AA+50.0
15 Apr 20202.93100.820.543.00AA+20.0
15 May 20213.20112.370.686.00AA+215.0
15 Apr 20233.57112.540.835.50AA+65.0
15 Apr 20253.9493.340.962.75AA+325.0
15 Apr 20274.12105.280.904.50AA+200.0
NZ Post Group Finance15 Nov 20195.20103.242.866.35BB+200.0
Powerco28 Sep 20173.00104.136.74BBB50.0
Precinct Properties New Zealand Ltd17 Dec 20214.30109.381.715.5475.0
Rabobank New Zealand16 May 20183.05104.780.896.25AA-
15 Mar 20196.10AA-0.0
10 Jun 20203.600.004.59A+200.0
Sky City Entertainment Group28 Sep 20224.55102.491.874.65BBB-125.0
Sky Network Television31 Mar 20216.25100.0
Spark Finance07 Sep 20263.94A-125.0
Spark Finance Ltd10 Mar 20234.15103.441.424.51100.0
The Warehouse Group15 Jun 20204.05106.391.645.30125.0
Transpower15 Feb 20172.35102.725.60AA-150.0
30 Nov 20185.14AA-125.0
10 Jun 20203.30115.610.896.95AA-150.0
Transpower New Zealand Ltd06 Sep 20194.65AA-200.0
30 Jun 20223.75104.951.104.30AA-75.0
15 Mar 20233.90110.181.175.45AA-50.0
15 Mar 20284.25112.860.925.89AA-100.0
TrustPower 15 Dec 20168.0065.0
15 Dec 20173.70104.901.597.1075.0
15 Sep 20193.801.484.00140.0
15 Dec 20214.30108.241.715.63125.0
15 Dec 20224.5097.931.804.01127.7
Wellington International Airport15 May 20214.00109.251.486.25BBB+75.0
12 May 20234.3599.821.604.25BBB+75.0
05 Aug 20244.00BBB+60.0
Westpac New Zealand10 Feb 20172.35102.967.02AA-
20 Sep 20185.55AA-800.0
12 Jul 20193.25108.070.955.61AA-100.0
28 Apr 20213.80100.841.293.80AA-700.0
01 Sep 20214.70BBB+400.0
Z Energy15 Oct 20163.70103.547.35147.0
15 Aug 20183.80106.141.617.25150.0
15 Nov 20193.90107.401.566.50135.0
01 Nov 20214.501.913.95200.0
01 Nov 20234.7597.991.944.32200.0

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 20174.558.0039.7

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 20174.757.5015 Mar 201768.3
TrustPower 15 Dec 20158.408.4015 Dec 2015100.0
Fletcher Building Industries15 Mar 20183.951.817.1544.1
15 Mar 20194.201.945.4075.0
IAG15 Jun 20225.1515 Jun 2022BBB350.0
Infratil15 Jun 20245.852.975.5056.1
15 Jun 20166.008.5015 Jun 2016100.0
15 Jun 20174.658.5015 Jun 201766.3
15 Feb 20204.502.138.5020 Feb 202080.5

Capital Bond

Issuer Maturity
Date
Yield to
Maturity
Indicative Price Swap
Spread
Coupon Credit Rating Amt $m
Fletcher Building Industries4.30103.021.804.75100.0
15 Mar 20203.95106.601.575.8093.2
Infratil15 Nov 20184.35104.842.136.85111.4
The Cooperative Bank Ltd28 Jul 20216.00BB+30.0
Vector15 Jun 20174.55104.227.00BB+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 BankPerpetual102.505.2818 Apr 20185 yr swap plus 2.00ContinuousBBB+835.0
Credit Agricole S.A.Perpetual89.055.0419 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 HoldingsPerpetual96.005.8812 Mar 20173 yr swap plus1.70Continuous200.0
Rabo Capital SecuritiesPerpetual107.008.3418 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 2025101.185.3117 Dec 20205 year swap2.251608116400BBB+550.0

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 GroupPerpetual97.504.6910 Jul 20162.742.20ContinuousBBB+35.0
InfratilPerpetual66.203.6315 Nov 20171 yr swap plus1.50Continuous238.0
Rabobank Nederland08 Oct 203796.002.8808 Oct 20171 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 CapitalPerpetual75.203.4215 Nov 20171 yr swap plus 1.30ContinuousBBB149.0
ASB Capital No 2Perpetual70.503.2015 May 20171 yr swap plus 1.00ContinuousBBB245.7
Motor Trade Finances Perpetual60.004.4730 Sep 20171 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 2016101.006.2915 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 20178800.006.3615 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