Bond Issues

Indicative yields and prices as at 11:00 am, July 7, 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 20172.77108.25-0.33
15 Mar 20192.99108.87-0.23
15 Apr 2020101.01
15 May 20213.08117.18-0.34
15 Apr 20233.31117.21-0.29

NZFMA

Maturity Quarterly Rate
3 mth bills3.18
1 year2.95
2 year2.94
3 year3.03
4 year3.13
5 year3.32
7 year3.60
10 year3.88

Fixed Rate Issues

 

Senior Bonds

Issuer Maturity
Date
Yield to
Maturity
Indicative Price Swap
Spread
Coupon Credit Rating Amt $m
Air New Zealand15 Nov 20164.10105.151.116.90Baa3150.0
ANZ National Bank13 Jul 2015103.236.51AA-350.0
18 Sep 20174.89AA-200.0
16 Feb 20186.85AA-250.0
20 Sep 2018109.426.08AA-125.0
27 Feb 2019107.825.43AA-400.0
APN Media (NZ)15 Mar 20167.86100.0
ASB Bank20 Oct 2015102.116.10AA-
08 Jun 2017105.606.06AA-315.0
20 Dec 2017102.804.48AA-400.0
15 Jun 2019107.236.65BBB+400.0
25 Feb 2020103.634.42AA-200.0
Auckland Council 15 Sep 20153.35102.766.90AA95.8
29 Sep 20173.29108.610.216.52AA350.0
18 Dec 20183.36103.580.174.41AA125.0
24 Sep 20203.57103.380.214.02AA250.0
25 Mar 20245.81AA+200.0
Auckland International Airport07 Nov 20153.367.25A-100.0
15 Nov 20163.35107.430.368.00A-130.0
17 Oct 20173.33105.900.255.47A-100.0
13 Dec 20193.850.574.73A-100.0
28 May 20214.05108.000.635.52A-150.0
Bank of New Zealand13 Aug 2015102.766.17AA-240.0
15 Jul 2016102.435.73AA-
28 Mar 2018104.504.68AA-
20 Dec 2018108.206.10AA-200.0
25 Jun 20195.57AA-200.0
18 Jun 20204.43AA-575.0
China Construction Bank (New Zealand)18 Jun 20183.90101.364.32A75.0
Christchurch International Airport06 Dec 2019104.675.15BBB+50.0
04 Oct 2021111.076.25BBB+75.0
Contact Energy 13 Apr 20177.86BBB100.0
15 May 20194.02107.090.795.80BBB222.0
Fonterra Co-operative Group4.33A350.0
04 Mar 20163.27104.696.83A150.0
Genesis Energy15 Mar 2016105.207.65BBB+105.0
Goodman Fielder New Zealand16 May 20167.54250.0
Goodman Property Trust23 Jun 20224.551.035.00BBB+100.0
Infratil15 Nov 20194.80108.641.526.7568.5
15 Jun 20225.50111.241.986.85100.0
Kiwi Income Property Trust 20 Aug 2021110.556.15125.0
Kiwibank15 Dec 201716.5073.5013.405.80BB+150.0
Meridian Energy16 Mar 20173.90108.770.877.55BBB+75.0
NZ Government15 Dec 20172.77108.25-0.336.00AA+10261.0
15 Mar 20192.99108.87-0.235.00AA+7428.0
15 Apr 2020101.015.00AA+2000.0
15 May 20213.08117.18-0.346.00AA+11644.0
15 Apr 20233.31117.21-0.295.50AA+1754.0
NZ Local Govt Funding Agency15 Dec 20173.17106.920.076.00AA+250.0
15 Mar 20193.33107.260.125.00AA+50.0
15 Apr 202098.913.00AA+20.0
15 May 20213.60113.390.186.00AA+215.0
15 Apr 2023112.275.50AA+65.0
15 Apr 20274.50AA+200.0
NZ Post Group Finance15 Nov 20195.10106.181.826.35BB+200.0
Powerco28 Sep 20173.94106.550.866.74BBB50.0
Precinct Properties New Zealand Ltd17 Dec 20214.68105.531.215.5475.0
Rabobank New Zealand24 Aug 2015102.044.98AA-
01 Mar 2016103.207.04AA-100.0
16 May 2018107.776.25AA-
15 Mar 20196.10AA-0.0
10 Jun 20204.230.004.59A+200.0
Sky Network Television31 Mar 20216.25100.0
Spark Finance Ltd22 Mar 20163.49104.607.04A-150.0
Tauranga City Council15 Apr 2016103.716.25A+50.0
The Warehouse Group15 Jun 20204.741.415.30125.0
Transpower15 Feb 2017107.975.60AA-150.0
30 Nov 20185.14AA-125.0
10 Jun 2020114.826.95AA-150.0
Transpower New Zealand Ltd06 Sep 20194.65AA-200.0
30 Jun 20224.30AA-75.0
15 Mar 2023109.515.45AA-50.0
15 Mar 20285.89AA-100.0
TrustPower 15 Dec 20164.99104.941.998.0065.0
15 Dec 20174.00107.630.907.1075.0
15 Sep 20194.95107.811.696.75140.0
15 Dec 20214.75105.521.285.63125.0
Wellington International Airport15 May 20214.47110.391.056.25BBB+
Westpac New Zealand10 Feb 2017108.777.02AA-
20 Sep 20185.55AA-800.0
12 Jul 2019106.835.61AA-100.0
Z Energy15 Oct 20164.15105.621.167.35147.0
15 Aug 20184.25109.921.097.25150.0
15 Nov 20194.75108.841.476.50135.0

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 20385.202.248.5015 Jul 20165 yr swap plus4.12BB-275.0
IAG15 Dec 20367.5015 Dec 20165 year swap3.78BBB+325.0
Infratil15 Nov 20174.901.818.0039.7
NZ Post Group Finance5.101.827.5015 Nov 20145 yr swap plus3.75A200.0

Convertible Bonds

Issuer Election or
Conversion Date
Yield to
Election/
Conversion
Swap
Spread
Coupon Next Call Credit Rating Amt $m
ANZ National Bank25 May 20204.300.977.2025 May 2020BBB-250.0
Fletcher Building Industries15 May 20164.409.0015 May 201619.5
15 May 20164.507.7515 May 201678.0
15 Mar 20174.451.437.5015 Mar 201768.3
NZF Group15 Mar 20166.0015 Mar 201618.0
Sky City Entertainment Group15 May 20155.757.2515 May 2015150.0
TrustPower 15 Dec 20154.808.4015 Dec 2015100.0
Fletcher Building Industries15 Mar 20184.401.287.1544.1
15 Mar 20194.751.545.4075.0
Infratil15 Nov 20154.758.5015 Nov 2015152.8
15 Jun 20164.708.5015 Jun 2016100.0
15 Jun 20174.701.658.5015 Jun 201766.3
15 Feb 20205.302.008.5020 Feb 202080.5
Kiwi Income Property Trust 20 Dec 20148.95129.6

Capital Bond

Issuer Maturity
Date
Yield to
Maturity
Indicative Price Swap
Spread
Coupon Credit Rating Amt $m
Fletcher Building Industries15 Mar 20205.00105.991.695.8093.2
Infratil15 Nov 20184.85107.351.676.85111.4
Vector15 Jun 20174.50105.241.457.00BBB-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.Perpetual72.005.0419 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
Cynotech HoldingsPerpetual9.25Continuous1.8
Quayside HoldingsPerpetual103.505.8812 Mar 20173 yr swap plus1.70Continuous200.0
Rabo Capital SecuritiesPerpetual107.908.3418 Jun 20195 yr swap plus3.75ContinuousBBB280.0

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 20161.004.4316 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 203793.954.5908 Oct 20151 yr swap plus 0.76ContinuousBBB900.0

Redeemable Preference Shares

Issuer Maturity Date Price Current
Coupon
Coupon
Reset Date
Coupon
Base
Coupon
Margin
Next
Call
Credit Rating Amt $m
ASB CapitalPerpetual84.005.0415 Nov 20151 yr swap plus 1.30ContinuousBBB149.0
ASB Capital No 2Perpetual80.004.3415 May 20161 yr swap plus 1.00ContinuousBBB245.7
Motor Trade Finances Perpetual67.006.2601 Oct 20151 yr swap plus 2.40Continuous40.0
Origin Energy Contact Finance No. 2 Perpetual70.005.2815 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 2016101.007.2115 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