Bond Issues

Indicative yields and prices as at 11:00 am, Nov 27, 2020

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 20210.170.01
15 Apr 2023-0.020.01-0.16
15 Apr 20250.02101.68-0.22
15 Apr 20270.03112.23-0.32
20 Apr 20290.19127.84-0.27
15 May 20310.39121.82-0.18
14 Apr 20330.54109.77-0.13
15 Apr 20370.70133.52

NZFMA

Maturity Quarterly Rate
3 mth bills0.27
1 year0.06
2 year0.01
3 year0.02
4 year0.06
5 year0.12
7 year0.29
10 year0.54

Fixed Rate Issues

 

Senior Bonds

Issuer Maturity
Date		 Yield to
Maturity		 Indicative Price Swap
Spread		 Coupon Credit Rating Amt $m
ANZ Bank22 Mar 20210.25101.904.00AA-325.0
02 Sep 20210.20103.163.33AA-200.0
01 Sep 20220.200.010.103.75AA-275.0
30 May 20230.30110.290.163.70AA-500.0
01 Sep 20230.30110.230.143.71AA-150.0
20 Mar 20240.40108.150.212.95
Argosy Property Limited27 Mar 20261.75111.971.464.00
29 Oct 20261.90105.681.572.90
ASB Bank26 May 20210.25104.104.25AA-650.0
24 Feb 20220.15106.100.074.20AA-100.0
07 Sep 20230.30109.040.143.31AA-450.0
19 Aug 20240.40107.330.191.83AA-600.0
Auckland Council 27 Jun 20230.25108.820.103.17AA
25 Mar 20240.30119.200.115.81AA+200.0
10 Jul 20250.40108.120.142.01
27 Jul 20260.55116.610.243.34AA160.0
Auckland International Airport28 May 20210.80105.065.52A-150.0
09 Nov 20220.85108.900.744.28A-100.0
17 Apr 20230.90106.810.763.64A-
02 Nov 20230.80100.550.633.97A-225.0
10 Oct 20240.60106.220.383.51A-
Bank of China17 Oct 20220.70106.760.594.09A
19 Apr 20230.75108.120.614.02A
Bank of New Zealand27 Jul 20220.20107.350.103.86AA-
15 Jun 20230.25111.610.104.10AA-250.0
16 Nov 20230.95108.920.783.65
29 Dec 20241.00109.900.772.16AA-500.0
China Construction Bank (New Zealand)09 Nov 20220.70108.370.593.93A
19 Jun 20230.80109.810.654.01A
Chorus Limited06 May 20210.75101.684.12BBB400.0
Christchurch City Holdings Limited06 Dec 20220.55107.310.433.40A+
27 Nov 20240.65113.300.433.58
Christchurch International Airport04 Oct 20211.10105.216.25BBB+75.0
24 May 20241.461.264.13100.0
Contact Energy 15 Nov 20210.50104.970.444.40BBB125.0
15 Nov 20220.60109.830.484.63BBB125.0
15 Aug 20241.55112.701.343.55
Fonterra Co-operative Group20 Oct 20211.050.014.33A-350.0
07 Mar 20230.65109.500.524.42A-150.0
Genesis Energy18 Mar 20220.55105.430.474.14BBB+100.0
09 Jun 20222.102.015.70BB+225.0
16 Jul 20482.152.004.65BB+240.0
Goodman Property Trust16 Dec 20200.95102.996.20BBB+100.0
23 Jun 20221.05108.220.965.00BBB+100.0
01 Sep 20231.35108.011.194.00BBB+100.0
31 May 20241.75109.141.554.54BBB+100.0
Heartland Bank Limited21 Sep 20221.15106.761.044.50BBB150.0
12 Apr 20241.55110.741.363.55
ICBC27 Jun 20240.35109.360.152.61
Infratil15 Jun 20222.80107.222.716.85100.0
15 Dec 20222.75106.632.635.6579.3
15 Sep 20232.75107.502.595.2560.0
15 Dec 20242.80108.202.574.7557.3
15 Jun 20252.85114.972.606.1535.0
Investore Property18 Apr 20241.65109.411.464.40100.0
Kiwi Property Group 20 Aug 20211.40105.016.15125.0
07 Sep 20230.75114.350.594.00125.0
19 Dec 20241.05112.180.824.33BBB+
12 Nov 20251.90103.831.634.06100.0
Kiwibank20 Sep 20240.40105.760.192.16A500.0
Meridian Energy14 Mar 20231.55108.691.424.53BBB+150.0
20 Mar 20241.20108.121.014.88BBB+150.0
27 Jun 20251.60113.781.354.21BBB+
Metlifecare30 Sep 20261.95106.121.632.80
NZ Government15 May 20210.170.016.00AA+11644.0
15 Apr 2023-0.020.01-0.165.50AA+1754.0
15 Apr 20250.02101.68-0.222.75AA+1700.0
15 Apr 20270.03112.23-0.324.50AA+5700.0
20 Apr 20290.19127.84-0.273.00AA+2150.0
15 May 20310.39121.82-0.181.50AA+2000.0
14 Apr 20330.54109.77-0.133.50AA+2000.0
15 Apr 20370.70133.522.75AA+2000.0
NZ Local Govt Funding Agency15 May 20210.336.00AA+215.0
14 Apr 20220.15103.900.072.75AA+200.0
15 Apr 20230.13113.41-0.015.50AA+65.0
15 Apr 20240.17107.27-0.022.25AA+
15 Apr 20250.26111.150.022.75AA+325.0
15 Apr 20260.36106.230.061.50AA+1000.0
15 Apr 20270.45125.950.104.50AA+200.0
20 Apr 20291.50AA+632.0
14 Apr 20331.130.020.463.50AA+125.0
NZX Limited20 Jun 20332.351.675.4040.0
Precinct Properties New Zealand Ltd17 Dec 20211.55106.511.485.5475.0
27 Nov 20241.70112.561.484.42
Property for Industry28 Nov 20241.50113.001.284.59100.0
01 Oct 20251.65112.611.384.25100.0
Sky City Entertainment Group28 Sep 20223.45101.623.344.65BBB-125.0
Sky Network Television31 Mar 20214.05101.456.25100.0
Spark Finance10 Mar 20230.50110.030.374.51100.0
07 Mar 20240.25111.970.073.37A-125.0
07 Sep 20260.60105.690.283.94A-125.0
Summerset Group Holdings Limited11 Jul 20231.65108.511.504.78100.0
24 Sep 20251.75111.911.484.20125.0
Synlait Milk17 Dec 20243.30102.523.073.83
The New Zealand Refining Company Limited01 Mar 20346.005.10
The Warehouse Group15 Jun 20204.80102.645.30125.0
Transpower30 Jun 20220.20108.260.114.30AA-75.0
16 Sep 20220.20107.750.094.07AA-100.0
15 Mar 20230.25113.000.125.45AA-50.0
14 Mar 20240.60109.700.412.73AA-
06 Mar 20250.50107.150.263.82AA-125.0
04 Sep 20250.55114.630.291.74AA-150.0
15 Mar 20280.90117.620.505.89AA-100.0
TrustPower 15 Dec 20211.45105.371.385.63125.0
15 Dec 20221.50105.751.384.01127.7
29 Jul 20261.60109.611.293.35
Turners Automotive Group Limited30 Sep 20214.755.5025.0
Vector27 May 20251.75116.281.503.45
WEL Networks Limited02 Aug 20231.95107.881.804.90150.0
Wellington International Airport15 May 20211.80105.286.25BBB+75.0
12 May 20231.10108.750.964.25BBB+75.0
05 Aug 20240.90110.620.694.00BBB+60.0
16 Jun 20250.90116.520.655.00BBB+75.0
01 Apr 20302.10108.271.594.00
Westpac New Zealand28 Apr 20210.25101.783.80AA-700.0
01 Sep 20211.650.034.70BBB+400.0
07 Jun 20220.20107.220.113.78AA-
23 Mar 20230.25108.680.123.72AA-550.0
29 Jul 20240.95106.860.742.22AA-900.0
20 Feb 20250.45107.740.212.08AA-500.0
Z Energy01 Nov 20211.500.021.433.95200.0
01 Nov 20231.500.021.334.32200.0
03 Sep 20241.600.031.394.00

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
ANZ Bank25 May 20207.2025 May 2020BBB-250.0
Fletcher Building Industries15 Mar 20175.957.5015 Mar 201768.3
TrustPower 15 Dec 20158.408.4015 Dec 2015100.0
Fletcher Building Industries15 Mar 20195.4075.0
15 Mar 20222.902.825.00100.0
IAG15 Jun 20225.1515 Jun 2022BBB350.0
Infratil15 Jun 20242.802.605.5056.1
15 Jun 20166.008.5015 Jun 2016100.0
15 Feb 20203.658.5020 Feb 202080.5

Capital Bond

Issuer Maturity
Date		 Yield to
Maturity		 Indicative Price Swap
Spread		 Coupon Credit Rating Amt $m
Fletcher Building Industries15 Mar 20203.75102.035.8093.2
15 Mar 20213.30101.094.75100.0
15 Mar 20232.85105.482.725.25100.0
15 Mar 20242.90104.522.714.90
Infratil15 Nov 20184.106.85111.4
The Cooperative Bank Ltd28 Jul 20214.303.996.00BBB30.0
Vector15 Jun 20222.202.115.70BB+

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
Bank of New Zealand17 Dec 20250.035.3117 Dec 20205 year swap2.251608116400BBB+550.0
Chorus Limited06 Dec 2028109.884.8506 Dec 2023
TrustPower 22 Feb 2029107.853.9722 Feb 2024
Infratil15 Dec 2028104.804.8515 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
Fonterra Co-operative GroupPerpetual95.004.6910 Jul 20162.742.20ContinuousBBB+35.0
InfratilPerpetual55.003.6315 Nov 20171 yr swap plus1.50Continuous238.0

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

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