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Bond Issues

Indicative yields and prices as at 11:00 am, Jan 28, 2021.

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 Apr 20231.70106.14-0.32
15 May 20242.1396.490.03
15 Apr 20252.32102.130.15
15 May 20262.4392.290.18
15 Apr 20272.46111.240.14
15 May 20282.5386.880.12
20 Apr 20292.54103.860.06
15 May 20312.6091.29-0.04

NFMA

Maturity Quarterly Rate
3 mth bills1.10
1 year2.00
2 year2.49
3 year2.70
4 year2.81
5 year2.85
7 year2.87
10 year2.90

Fixed Rate Issues

Senior Bonds

Issuer Maturity
Date
Yield to
Maturity
Indicative Price Swap
Spread
Coupon Credit Rating Amt $m
ANZ Bank01 Sep 20221.55102.843.75AA-275.0
30 May 20232.33102.410.303.70AA-500.0
01 Sep 20232.50103.420.453.71AA-150.0
20 Mar 20242.75101.690.663.03
Argosy Property Limited27 Mar 20263.50102.311.264.00
29 Oct 20263.6096.981.312.90
27 Oct 20273.7592.051.392.20
Arvida Group22 Feb 20283.9095.011.512.87
ASB Bank24 Feb 20220.80102.054.20AA-100.0
07 Sep 20232.50102.590.453.31AA-450.0
19 Aug 20242.9198.180.791.83AA-600.0
04 May 20263.2694.031.011.65AA-
Auckland Council 27 Jun 20232.25101.570.223.17AA
25 Mar 20242.59108.720.505.81AA+200.0
10 Jul 20252.8597.390.662.01
27 Jul 20262.95101.660.683.34AA160.0
20 Oct 20273.0097.610.642.41AA
Auckland International Airport09 Nov 20221.94102.764.28A-100.0
17 Apr 20232.40102.500.383.64A-
02 Nov 20232.69103.160.633.97A-225.0
10 Oct 20243.01102.370.883.51A-
17 Nov 20263.200.003.29A-
Bank of China17 Oct 20222.00102.654.09A
19 Apr 20232.55102.890.534.02A
Bank of New Zealand27 Jul 20221.45101.223.86AA-
15 Jun 20232.35102.880.324.10AA-250.0
16 Nov 20232.60102.580.543.65
28 Jan 20252.9597.760.802.16AA-500.0
16 Dec 20251.90-0.322.73BBB+
08 Jun 20263.3094.581.041.88AA-
China Construction Bank (New Zealand)09 Nov 20222.05102.333.93A
19 Jun 20232.65102.300.624.01A
24 Sep 20232.8597.310.800.95A
Chorus Limited01 Dec 20273.4592.591.081.98BBB
01 Dec 20303.6591.841.052.51BBB
Christchurch City Holdings Limited06 Dec 20221.94101.743.40A+
27 Nov 20242.80102.740.663.58
05 Nov 20263.05100.540.763.01AA-
Christchurch International Airport24 May 20242.95103.390.854.13100.0
Contact Energy 15 Nov 20210.55101.104.40BBB125.0
15 Nov 20222.00103.034.63BBB125.0
15 Aug 20242.90102.330.783.55
19 Nov 20263.55103.870.004.33BB+
Fletcher Building Industries14 Mar 20253.40102.951.243.90
15 Mar 20262.80
Fonterra Co-operative Group07 Mar 20232.30104.060.294.42A-150.0
14 Nov 20253.20104.250.994.15100.0
Genesis Energy3.00103.420.964.65BB+240.0
18 Mar 20221.00101.944.14BBB+100.0
08 Jun 20272.85101.525.70BB+225.0
Goodman Property Trust23 Jun 20221.65101.845.00BBB+100.0
01 Sep 20232.55103.910.504.00BBB+100.0
31 May 20243.05104.100.954.54BBB+100.0
Heartland Bank Limited21 Sep 20222.05103.184.50BBB150.0
12 Apr 20243.00102.240.913.55
ICBC27 Jun 20243.1599.011.042.61
Infratil15 Jun 20222.70102.416.85100.0
15 Dec 20223.05102.965.6579.3
15 Sep 20233.00104.230.955.2560.0
15 Dec 20243.20104.851.064.7557.3
15 Jun 20253.85108.041.676.1535.0
14 Mar 20263.6099.481.363.35
14 Dec 20263.7098.881.403.35
15 Dec 20274.0098.391.633.60
Investore Property18 Apr 20243.25102.611.164.40100.0
30 Aug 20273.7093.891.352.40
Kiwi Property Group 20 Aug 20211.596.15125.0
07 Sep 20232.70103.630.654.00125.0
19 Dec 20242.90104.440.754.33BBB+
12 Nov 20253.20103.930.994.06100.0
Kiwibank20 Sep 20243.0098.670.872.16A500.0
11 Dec 20253.4596.411.232.36Baa3
02 Nov 2026101.504.93Ba1
Mercury NZ29 Sep 20263.301.022.16BBB+
13 Sep 20273.3591.501.001.56BBB+
Meridian Energy14 Mar 20232.25104.240.244.53BBB+150.0
20 Mar 20242.90105.860.814.88BBB+150.0
27 Jun 20253.20103.641.024.21BBB+
Metlifecare30 Sep 20263.5098.111.223.00
NZ Government15 Apr 20231.70106.14-0.325.50AA+1754.0
15 May 20242.1396.490.030.50AA+
15 Apr 20252.32102.130.152.75AA+1700.0
15 May 20262.4392.290.180.50AA+
15 Apr 20272.46111.240.144.50AA+5700.0
15 May 20282.5386.880.120.25AA+
20 Apr 20292.54103.860.063.00AA+2150.0
15 May 20312.6091.29-0.041.50AA+2000.0
NZ Local Govt Funding Agency14 Apr 20220.93101.192.75AA+200.0
15 Apr 20232.04105.720.025.50AA+65.0
15 Apr 20242.43100.280.342.25AA+
15 Apr 20252.68101.030.512.75AA+325.0
15 Apr 20262.8295.250.571.50AA+1000.0
15 Apr 20272.90109.010.584.50AA+200.0
15 May 20283.0196.150.602.25AAA
20 Apr 20293.0390.570.551.50AA+632.0
15 May 20312.25AAA
14 Apr 20333.23103.570.453.50AA+125.0
15 May 20353.3596.913.00AAA
14 Apr 20373.4383.762.00AA+
NZX Limited20 Jun 2033101.505.4040.0
Oceania Healthcare18 Oct 20273.7092.891.342.30
13 Sep 20283.7597.821.323.30
Precinct Properties New Zealand Ltd17 Dec 20215.54102.685.5475.0
27 Nov 20243.40103.511.264.42
28 Jun 20273.6096.901.272.85
Property for Industry28 Nov 20243.00105.090.864.59100.0
01 Oct 20253.45103.101.244.25100.0
Ryman Healthcare17 Dec 20263.5096.071.202.55
Sky City Entertainment Group21 May 20273.6097.791.273.02BBB-
Spark Finance10 Mar 20232.15103.220.144.51100.0
07 Mar 20242.70101.880.623.37A-125.0
07 Sep 20263.10104.190.823.94A-125.0
Summerset Group Holdings Limited11 Jul 20233.00102.770.974.78100.0
24 Sep 20253.35103.351.154.20125.0
20 Sep 20273.6593.411.292.30
Synlait Milk17 Dec 20244.9097.622.763.83
Transpower30 Jun 20221.30101.614.30AA-75.0
16 Sep 20221.60103.064.07AA-100.0
15 Mar 20232.10105.800.095.45AA-50.0
14 Mar 20242.60101.310.512.73AA-
06 Mar 20252.85104.410.693.82AA-125.0
04 Sep 20252.9096.770.701.74AA-150.0
08 Apr 20263.0594.510.811.52AA
08 Sep 20263.0596.540.772.05AA
15 Mar 20283.15117.400.765.89AA-100.0
TrustPower 15 Dec 20215.63101.345.63125.0
15 Dec 20222.50101.824.01127.7
29 Jul 20263.35100.021.083.35
Vector27 May 20253.15101.560.973.45
26 Nov 20273.65100.881.283.69BBB
WEL Networks Limited02 Aug 20233.10103.841.064.90150.0
Wellington International Airport12 May 20232.60103.000.584.25BBB+75.0
05 Aug 20243.15103.981.034.00BBB+60.0
16 Jun 20253.25106.181.075.00BBB+75.0
13 Aug 20263.4097.401.132.50
24 Sep 20263.45100.591.173.32
01 Apr 20303.20103.691.034.00
Westpac New Zealand07 Jun 20221.30101.433.78AA-
23 Mar 20232.25103.000.243.72AA-550.0
29 Jul 20242.9098.390.782.22AA-900.0
20 Feb 20253.0598.130.892.08AA-500.0
24 Feb 20263.2593.781.011.44AA-
24 Feb 20261.44AA-
Z Energy01 Nov 20211.634.01200.0
01 Nov 20232.65103.920.594.32200.0
03 Sep 20243.10102.880.984.00

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
Fletcher Building Industries15 Mar 20223.505.00100.0
IAG15 Jun 20225.1515 Jun 2022BBB350.0
Infratil15 Jun 20243.000.895.5056.1

Capital Bonds

Issuer Maturity
Date
Yield to
Maturity
Indicative Price Swap
Spread
Coupon Credit Rating Amt $m
Fletcher Building Industries15 Mar 20213.104.75100.0
15 Mar 20232.90104.200.895.25100.0
15 Mar 20243.00105.740.914.90
The Cooperative Bank Ltd28 Jul 20214.302.036.00BBB30.0
Vector15 Jun 20222.205.70BB+

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 2028104.714.8506 Dec 2023
TrustPower 22 Feb 2029102.353.9722 Feb 2024
Infratil15 Dec 2028103.404.8515 Dec 2023122.0

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

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