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Bond Issues

Indicative yields and prices as at 12:00 pm, Mar 15, 2024.

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 May 20245.600.99
15 Apr 20255.440.98-0.01
15 May 20264.940.91-0.42
15 Apr 20274.781.01-0.50
15 May 20284.690.83-0.50
20 Apr 20294.680.93-0.43
15 May 20304.691.00-0.33
15 May 20314.720.81-0.22

NFMA

Maturity Quarterly Rate
3 mth bills5.64
1 year5.42
2 year4.89
3 year4.58
4 year4.42
5 year4.34
7 year4.32
10 year4.87

Fixed Rate Issues

Senior Bonds

Issuer Maturity
Date
Yield to
Maturity
Indicative Price Swap
Spread
Coupon Credit Rating Amt $m
Air New Zealand27 Apr 20286.101.040.916.61Baa2100.0
ANZ Bank20 Mar 20245.671.013.03550.0
16 Feb 20285.401.000.195.22AA-500.0
18 Jul 20280.996.95BBB550.0
Argosy Property Limited27 Mar 20266.960.951.594.00100.0
29 Oct 20267.100.901.782.90100.0
27 Oct 20277.200.841.962.20125.0
Arvida Group22 Feb 20287.500.842.292.87125.0
ASB Bank19 Aug 20245.940.981.83AA-600.0
04 May 20265.580.930.221.65AA-500.0
16 Nov 20265.501.030.235.52AA-650.0
Auckland Council 6.050.602.95AA500.0
25 Mar 20245.751.025.81AA+200.0
10 Jul 20255.760.950.332.01150.0
27 Jul 20265.380.960.043.34AA180.0
20 Oct 20275.270.910.032.41AA300.0
27 Sep 20285.201.050.045.73AA300.0
Auckland International Airport10 Oct 20246.251.003.51A-150.0
17 Nov 20265.620.003.29A-150.0
17 Nov 20285.501.010.355.29A-150.0
02 Nov 20295.501.050.436.22A-250.0
Bank of New Zealand28 Jan 20255.980.972.16AA-500.0
08 Jun 20265.560.930.201.88AA-550.0
07 Jun 20275.471.000.204.99AA-650.0
25 May 20285.501.020.315.54AA-600.0
01 Sep 20285.541.010.375.87AA-1000.0
14 Jun 20291.017.30BBB375.0
China Construction Bank (New Zealand)22 Nov 20246.720.982.39A
Chorus Limited01 Dec 20275.700.870.471.98BBB200.0
01 Dec 20305.990.811.022.51BBB200.0
Christchurch City Holdings Limited27 Nov 20246.000.993.58150.0
05 Nov 20265.400.950.083.01AA-150.0
06 Apr 20285.331.010.135.04AA150.0
Christchurch International Airport24 May 20246.201.014.13100.0
19 May 20285.581.000.395.18BBB+100.0
Contact Energy 19 Nov 20266.970.940.004.33BB+225.0
11 Apr 20285.461.020.265.82BBB250.0
06 Apr 20295.391.020.285.62BBB300.0
Fletcher Building Industries14 Mar 20258.400.972.943.90100.0
15 Mar 20267.650.922.282.80100.0
15 Mar 20287.201.012.006.50100.0
Fonterra Co-operative Group14 Nov 20255.890.980.494.15100.0
Genesis Energy08 Jun 20272.105.70BB+225.0
09 Jun 20276.840.981.575.66BB+285.0
14 Mar 20285.670.970.474.17BBB+125.0
10 Jul 20286.601.001.426.50BB+240.0
GMT Bond Issuer14 Apr 20276.400.971.124.74BBB+150.0
Goodman Property Trust31 May 20246.601.014.54BBB+100.0
Heartland Bank Limited28 Apr 20287.301.012.117.51BB+100.0
IAG15 Jun 20280.945.32BBB400.0
ICBC27 Jun 20246.700.992.61
Infratil15 Dec 20247.450.994.75100.0
15 Jun 20257.271.001.836.1543.4
14 Mar 20267.200.931.833.35120.3
15 Jun 20267.130.991.785.93115.9
14 Dec 20267.000.911.693.35156.3
15 Dec 20276.750.901.523.60102.4
31 Jul 20296.751.011.666.90150.0
15 Mar 20316.771.011.827.08127.2
Investore Property18 Apr 20247.101.004.40100.0
25 Feb 20277.050.921.764.00125.0
30 Aug 20277.100.861.852.40125.0
Kiwi Property Group 19 Dec 20247.000.994.33BBB+125.0
12 Nov 20256.750.971.354.06100.0
27 Sep 20296.251.031.186.24BBB+125.0
Kiwibank20 Sep 20246.020.992.16A500.0
11 Dec 20257.080.931.682.36Baa3275.0
02 Nov 20260.934.93Ba1250.0
19 Oct 20275.581.030.345.74A1
12 May 20286.351.001.166.40Baa2200.0
19 Oct 20285.581.050.436.25A1
Manawa Energy29 Jul 20265.950.940.613.35125.0
08 Sep 20275.891.000.645.36150.0
Mercury NZ11 Jul 20248.050.993.60BB+300.0
29 Sep 20265.760.432.16BBB+200.0
13 May 20276.800.971.525.73BB+250.0
13 Sep 20275.600.880.351.56BBB+200.0
19 Jun 20285.661.010.485.64BBB+150.0
Meridian Energy20 Mar 20245.901.024.88BBB+150.0
27 Jun 20255.980.980.544.21BBB+200.0
20 Sep 20285.551.040.395.91BBB+200.0
Metlifecare30 Sep 20267.400.902.073.00100.0
Napier Port Holdings23 Mar 20285.801.000.605.52100.0
NZ Government15 May 20245.600.990.50AA+
15 Apr 20255.440.98-0.012.75AA+1700.0
15 May 20264.940.91-0.420.50AA+
15 Apr 20274.781.01-0.504.50AA+5700.0
15 May 20284.690.83-0.500.25AA+
20 Apr 20294.680.93-0.433.00AA+2150.0
15 May 20304.691.00-0.334.50AA+
15 May 20314.720.81-0.221.50AA+2000.0
NZ Local Govt Funding Agency15 Apr 20245.701.002.25AA+2268.0
15 Apr 20255.800.980.352.75AA+2819.0
15 Apr 20265.400.930.031.50AA+2255.0
15 Apr 20275.270.99-0.014.50AA+2311.0
15 May 20285.200.900.012.25AAA1613.0
20 Apr 20295.250.840.141.50AA+1982.0
15 May 20305.300.970.284.50AA+1600.0
15 May 20315.380.820.442.25AAA1305.0
14 Apr 20335.480.870.713.50AA+1575.0
15 May 20355.600.791.003.00AAA550.0
14 Apr 20375.700.672.00AA+920.0
NZX Limited20 Jun 20281.016.8040.0
20 Jun 20335.4040.0
Oceania Healthcare18 Oct 20277.800.832.562.30125.0
13 Sep 20287.750.842.593.30100.0
Precinct Properties New Zealand Ltd27 Nov 20247.100.994.42100.0
28 Jun 20276.950.891.682.85150.0
09 May 20286.950.951.765.25175.0
Property for Industry28 Nov 20246.850.994.59100.0
01 Oct 20256.750.971.344.25100.0
Quayside Holdings12 Mar 20260.916.64200.0
Ryman Healthcare17 Dec 20266.840.901.532.55150.0
Sky City Entertainment Group21 May 20277.400.882.133.02BBB-175.0
Southland Building Society18 Mar 20275.901.020.616.14BBB+175.0
18 Mar 20276.840.981.554.32BBB+150.0
Spark Finance07 Mar 20243.371.013.37A-125.0
07 Sep 20265.400.970.073.94A-125.0
Summerset Group Holdings Limited24 Sep 20256.650.971.244.20125.0
20 Sep 20276.600.871.352.30150.0
09 Mar 20295.801.030.686.50175.0
Synlait Milk17 Dec 202430.000.833.83180.0
Transpower14 Mar 20245.641.012.73AA-150.0
06 Mar 20255.840.983.82AA-125.0
04 Sep 20255.630.940.211.74AA-450.0
08 Apr 20265.390.930.021.52AA150.0
08 Sep 20265.310.93-0.022.05AA200.0
16 Sep 20275.201.00-0.054.63AA200.0
15 Mar 20285.151.05-0.055.89AA-100.0
TrustPower 29 Jul 20261.70-3.643.35
Vector27 May 20256.080.980.643.45250.0
15 Jun 20276.651.001.386.23BB+307.2
26 Nov 20275.650.940.423.69BBB225.0
Wellington International Airport05 Aug 20246.650.994.00BBB+60.0
16 Jun 20256.530.991.095.00BBB+70.0
13 Aug 20266.100.920.762.50100.0
24 Sep 20266.850.931.523.32125.0
24 Aug 20285.901.000.735.78BBB75.0
01 Apr 20306.800.991.344.00100.0
Westpac New Zealand29 Jul 20245.920.992.22AA-900.0
20 Feb 20255.950.962.08AA-500.0
24 Feb 20261.44AA-
24 Feb 20265.650.920.271.44AA-
16 Feb 20275.520.950.223.70AA
16 Sep 20276.451.001.206.19A-600.0
14 Feb 20296.231.021.106.73A-600.0
Works Finance (NZ)15 Jun 20241.019.81200.0
Z Energy03 Sep 20246.550.994.00125.0

Subordinated Callable Bonds

Issuer Maturity
Date
Yield to
Reset Date
Swap
Spread
Coupon Coupon Reset Date Coupon Base Coupon Margin Credit Rating Amt $m

Convertible Bonds

Issuer Election or
Conversion Date
Yield to
Election/
Conversion
Swap
Spread
Coupon Next Call Credit Rating Amt $m
Infratil15 Jun 20247.305.5056.1

Capital Bonds

Issuer Maturity
Date
Yield to
Maturity
Indicative Price Swap
Spread
Coupon Credit Rating Amt $m
Fletcher Building Industries15 Mar 20244.901.024.90100.0

Perpetual Callable Bonds

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

Redeemable Preference Shares

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

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
Chorus Limited06 Dec 20281.044.8506 Dec 2023500.0
TrustPower 22 Feb 20293.9722 Feb 2024100.0
Infratil15 Dec 20281.034.8515 Dec 2023146.2

Perpetual Callable Bonds

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

Redeemable Preference Shares

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

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

Floating Rate Issues

Floating rate bonds

Issuer Maturity
Date
Yield to
Reset Date
Swap
Spread
Coupon Coupon Reset Date Coupon Base Coupon Margin 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

Structured Credit

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