Bond Issues
Indicative yields and prices as at 11:00 am, Feb 26, 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 May 2021 | 0.20 | 102.96 | |
15 Apr 2023 | 0.32 | 113.02 | -0.20 |
14 May 2024 | 0.56 | 99.95 | -0.14 |
15 Apr 2025 | 0.77 | 109.05 | -0.07 |
14 May 2026 | 1.00 | 97.61 | -0.02 |
15 Apr 2027 | 1.14 | 121.51 | -0.03 |
14 May 2028 | 1.38 | 92.34 | 0.04 |
20 Apr 2029 | 1.50 | 112.53 | 0.01 |
Fixed Rate Issues
Senior Bonds
Issuer | Maturity Date |
Yield to Maturity |
Indicative Price | Swap Spread |
Coupon | Credit Rating | Amt $m | |
---|---|---|---|---|---|---|---|---|
ANZ Bank | 22 Mar 2021 | 0.30 | 101.98 | 4.00 | AA- | 325.0 | ||
02 Sep 2021 | 0.30 | 101.51 | 3.33 | AA- | 200.0 | |||
01 Sep 2022 | 0.45 | 104.93 | 0.03 | 3.75 | AA- | 275.0 | ||
30 May 2023 | 0.65 | 107.72 | 0.11 | 3.70 | AA- | 500.0 | ||
01 Sep 2023 | 0.75 | 107.32 | 0.17 | 3.71 | AA- | 150.0 | ||
20 Mar 2024 | 0.90 | 107.75 | 0.23 | 3.03 | ||||
Argosy Property Limited | 27 Mar 2026 | 2.35 | 108.56 | 1.35 | 4.00 | |||
29 Oct 2026 | 2.40 | 102.88 | 1.31 | 2.90 | ||||
26 Oct 2027 | 2.60 | 97.75 | 1.35 | 2.20 | ||||
ASB Bank | 26 May 2021 | 0.30 | 102.05 | 4.25 | AA- | 650.0 | ||
24 Feb 2022 | 0.40 | 103.79 | 4.20 | AA- | 100.0 | |||
07 Sep 2023 | 0.80 | 106.18 | 0.21 | 3.31 | AA- | 450.0 | ||
19 Aug 2024 | 1.05 | 102.70 | 0.31 | 1.83 | AA- | 600.0 | ||
Auckland Council | 3.53 | 90.65 | 2.95 | AA | ||||
27 Jun 2023 | 0.65 | 106.36 | 0.10 | 3.17 | AA | |||
25 Mar 2024 | 0.90 | 117.32 | 0.23 | 5.81 | AA+ | 200.0 | ||
10 Jul 2025 | 1.20 | 103.72 | 0.32 | 2.01 | ||||
27 Jul 2026 | 1.50 | 109.81 | 0.45 | 3.34 | AA | 160.0 | ||
Auckland International Airport | 28 May 2021 | 0.60 | 102.61 | 5.52 | A- | 150.0 | ||
09 Nov 2022 | 0.95 | 106.90 | 0.50 | 4.28 | A- | 100.0 | ||
17 Apr 2023 | 1.10 | 106.68 | 0.58 | 3.64 | A- | |||
02 Nov 2023 | 1.20 | 108.56 | 0.59 | 3.97 | A- | 225.0 | ||
10 Oct 2024 | 1.50 | 108.40 | 0.74 | 3.51 | A- | |||
Bank of China | 17 Oct 2022 | 0.85 | 106.74 | 0.41 | 4.09 | A | ||
19 Apr 2023 | 1.00 | 107.83 | 0.48 | 4.02 | A | |||
Bank of New Zealand | 27 Jul 2022 | 0.45 | 105.13 | 0.04 | 3.86 | AA- | ||
15 Jun 2023 | 0.70 | 108.57 | 0.15 | 4.10 | AA- | 250.0 | ||
16 Nov 2023 | 0.80 | 108.67 | 0.18 | 3.65 | ||||
28 Jan 2025 | 1.20 | 103.84 | 0.39 | 2.16 | AA- | 500.0 | ||
16 Dec 2025 | 2.55 | 101.35 | 1.60 | 2.73 | BBB+ | |||
China Construction Bank (New Zealand) | 09 Nov 2022 | 0.85 | 106.38 | 0.40 | 3.93 | A | ||
19 Jun 2023 | 1.05 | 107.49 | 0.50 | 4.01 | A | |||
24 Sep 2023 | 1.15 | 99.92 | 0.56 | 0.95 | A | |||
Chorus Limited | 06 May 2021 | 0.65 | 100.91 | 4.12 | BBB | 400.0 | ||
01 Dec 2027 | 2.40 | 97.38 | 1.13 | 1.98 | BBB | |||
01 Dec 2030 | 2.80 | 97.52 | 1.05 | 2.51 | BBB | |||
Christchurch City Holdings Limited | 06 Dec 2022 | 0.75 | 105.43 | 0.29 | 3.40 | A+ | ||
27 Nov 2024 | 1.20 | 109.60 | 0.42 | 3.58 | ||||
Christchurch International Airport | 04 Oct 2021 | 0.80 | 105.76 | 6.25 | BBB+ | 75.0 | ||
24 May 2024 | 1.65 | 108.87 | 0.95 | 4.13 | 100.0 | |||
Contact Energy | 15 Nov 2021 | 0.55 | 102.90 | 4.40 | BBB | 125.0 | ||
15 Nov 2022 | 0.90 | 106.50 | 0.44 | 4.63 | BBB | 125.0 | ||
15 Aug 2024 | 1.30 | 107.74 | 0.56 | 3.55 | ||||
Fletcher Building Industries | 14 Mar 2025 | 2.80 | 105.95 | 1.97 | 3.90 | |||
Fonterra Co-operative Group | 20 Oct 2021 | 1.05 | 103.94 | 4.33 | A- | 350.0 | ||
07 Mar 2023 | 0.80 | 109.40 | 0.30 | 4.42 | A- | 150.0 | ||
14 Nov 2025 | 1.55 | 112.97 | 0.61 | 4.15 | 100.0 | |||
Genesis Energy | 2.25 | 106.09 | 1.69 | 4.65 | BB+ | 240.0 | ||
18 Mar 2022 | 0.55 | 105.62 | 0.20 | 4.14 | BBB+ | 100.0 | ||
08 Jun 2027 | 2.15 | 105.72 | 1.76 | 5.70 | BB+ | 225.0 | ||
Goodman Property Trust | 23 Jun 2022 | 1.05 | 106.07 | 0.66 | 5.00 | BBB+ | 100.0 | |
01 Sep 2023 | 1.30 | 106.62 | 0.72 | 4.00 | BBB+ | 100.0 | ||
31 May 2024 | 1.55 | 110.57 | 0.85 | 4.54 | BBB+ | 100.0 | ||
Heartland Bank Limited | 21 Sep 2022 | 1.15 | 107.15 | 0.72 | 4.50 | BBB | 150.0 | |
12 Apr 2024 | 1.45 | 107.73 | 0.77 | 3.55 | ||||
ICBC | 27 Jun 2024 | 1.35 | 104.54 | 0.63 | 2.61 | |||
Infratil | 15 Jun 2022 | 3.00 | 106.28 | 2.61 | 6.85 | 100.0 | ||
15 Dec 2022 | 2.90 | 105.95 | 2.43 | 5.65 | 79.3 | |||
15 Sep 2023 | 3.15 | 106.19 | 2.56 | 5.25 | 60.0 | |||
15 Dec 2024 | 3.15 | 106.68 | 2.36 | 4.75 | 57.3 | |||
15 Jun 2025 | 3.10 | 113.48 | 2.23 | 6.15 | 35.0 | |||
14 Mar 2026 | 3.20 | 101.38 | 2.21 | 3.35 | ||||
14 Dec 2026 | 3.20 | 101.48 | 2.09 | 3.35 | ||||
Investore Property | 18 Apr 2024 | 1.85 | 108.25 | 1.17 | 4.40 | 100.0 | ||
30 Aug 2027 | 2.65 | 98.50 | 1.42 | 2.40 | ||||
Kiwi Property Group | 20 Aug 2021 | 1.20 | 102.49 | 6.15 | 125.0 | |||
07 Sep 2023 | 1.55 | 107.95 | 0.96 | 4.00 | 125.0 | |||
19 Dec 2024 | 1.85 | 109.91 | 1.06 | 4.33 | BBB+ | |||
12 Nov 2025 | 2.15 | 109.71 | 1.21 | 4.06 | 100.0 | |||
Kiwibank | 20 Sep 2024 | 1.00 | 104.98 | 0.25 | 2.16 | A | 500.0 | |
10 Dec 2030 | 2.30 | 100.78 | 0.55 | 2.36 | Baa3 | |||
Mercury NZ | 2.35 | 104.50 | 3.60 | BB+ | ||||
13 Sep 2027 | 2.00 | 98.04 | 0.77 | 1.56 | BBB+ | |||
Meridian Energy | 14 Mar 2023 | 0.85 | 109.51 | 0.34 | 4.53 | BBB+ | 150.0 | |
20 Mar 2024 | 1.20 | 113.18 | 0.53 | 4.88 | BBB+ | 150.0 | ||
27 Jun 2025 | 1.60 | 111.60 | 0.72 | 4.21 | BBB+ | |||
Metlifecare | 30 Sep 2026 | 2.50 | 103.08 | 1.42 | 3.00 | |||
NZ Government | 15 May 2021 | 0.20 | 102.96 | 6.00 | AA+ | 11644.0 | ||
15 Apr 2023 | 0.32 | 113.02 | -0.20 | 5.50 | AA+ | 1754.0 | ||
14 May 2024 | 0.56 | 99.95 | -0.14 | 0.50 | AA+ | |||
15 Apr 2025 | 0.77 | 109.05 | -0.07 | 2.75 | AA+ | 1700.0 | ||
14 May 2026 | 1.00 | 97.61 | -0.02 | 0.50 | AA+ | |||
15 Apr 2027 | 1.14 | 121.51 | -0.03 | 4.50 | AA+ | 5700.0 | ||
14 May 2028 | 1.38 | 92.34 | 0.04 | 0.25 | AA+ | |||
20 Apr 2029 | 1.50 | 112.53 | 0.01 | 3.00 | AA+ | 2150.0 | ||
NZ Local Govt Funding Agency | 15 May 2021 | 0.31 | 102.93 | 6.00 | AA+ | 215.0 | ||
14 Apr 2022 | 0.37 | 103.70 | 0.01 | 2.75 | AA+ | 200.0 | ||
15 Apr 2023 | 0.53 | 112.55 | 0.01 | 5.50 | AA+ | 65.0 | ||
15 Apr 2024 | 0.77 | 105.40 | 0.09 | 2.25 | AA+ | |||
15 Apr 2025 | 1.04 | 107.92 | 0.20 | 2.75 | AA+ | 325.0 | ||
15 Apr 2026 | 1.30 | 101.55 | 0.30 | 1.50 | AA+ | 1000.0 | ||
15 Apr 2027 | 1.51 | 119.11 | 0.34 | 4.50 | AA+ | 200.0 | ||
20 Apr 2029 | 1.93 | 97.31 | 0.44 | 1.50 | AA+ | 632.0 | ||
14 Apr 2033 | 2.45 | 112.27 | 0.32 | 3.50 | AA+ | 125.0 | ||
14 Apr 2037 | 2.86 | 89.70 | 2.00 | AA+ | ||||
NZX Limited | 20 Jun 2033 | 2.60 | 107.28 | 0.44 | 5.40 | 40.0 | ||
Oceania Healthcare | 18 Oct 2027 | 2.55 | 98.73 | 1.30 | 2.30 | |||
Precinct Properties New Zealand Ltd | 17 Dec 2021 | 1.40 | 104.38 | 5.54 | 75.0 | |||
27 Nov 2024 | 2.00 | 109.81 | 1.22 | 4.42 | ||||
Property for Industry | 28 Nov 2024 | 1.80 | 110.09 | 1.02 | 4.59 | 100.0 | ||
01 Oct 2025 | 2.00 | 110.52 | 1.08 | 4.25 | 100.0 | |||
Ryman Healthcare | 17 Dec 2026 | 2.45 | 101.04 | 1.34 | 2.55 | |||
Sky Network Television | 31 Mar 2021 | 5.25 | 101.10 | 6.25 | 100.0 | |||
Spark Finance | 10 Mar 2023 | 0.80 | 108.46 | 0.29 | 4.51 | 100.0 | ||
07 Mar 2024 | 1.05 | 106.82 | 0.38 | 3.37 | A- | 125.0 | ||
07 Sep 2026 | 1.35 | 114.66 | 0.28 | 3.94 | A- | 125.0 | ||
Summerset Group Holdings Limited | 11 Jul 2023 | 1.65 | 107.88 | 1.09 | 4.78 | 100.0 | ||
24 Sep 2025 | 2.18 | 109.52 | 1.26 | 4.20 | 125.0 | |||
20 Sep 2027 | 2.50 | 99.23 | 1.26 | 2.30 | ||||
Synlait Milk | 17 Dec 2024 | 3.30 | 102.65 | 2.51 | 3.83 | |||
Transpower | 30 Jun 2022 | 0.40 | 105.90 | 0.01 | 4.30 | AA- | 75.0 | |
16 Sep 2022 | 0.50 | 107.34 | 0.07 | 4.07 | AA- | 100.0 | ||
15 Mar 2023 | 0.60 | 112.30 | 0.09 | 5.45 | AA- | 50.0 | ||
14 Mar 2024 | 0.95 | 106.58 | 0.28 | 2.73 | AA- | |||
06 Mar 2025 | 1.25 | 109.99 | 0.42 | 3.82 | AA- | 125.0 | ||
04 Sep 2025 | 1.35 | 101.66 | 0.44 | 1.74 | AA- | 150.0 | ||
15 Mar 2028 | 2.10 | 127.41 | 0.79 | 5.89 | AA- | 100.0 | ||
TrustPower | 15 Dec 2021 | 1.30 | 104.57 | 5.63 | 125.0 | |||
15 Dec 2022 | 1.50 | 105.26 | 1.03 | 4.01 | 127.7 | |||
29 Jul 2026 | 2.20 | 106.13 | 1.15 | 3.35 | ||||
Vector | 27 May 2025 | 1.65 | 108.23 | 0.79 | 3.45 | |||
WEL Networks Limited | 02 Aug 2023 | 2.00 | 107.20 | 1.43 | 4.90 | 150.0 | ||
Wellington International Airport | 15 May 2021 | 1.45 | 102.81 | 6.25 | BBB+ | 75.0 | ||
12 May 2023 | 1.75 | 106.64 | 1.22 | 4.25 | BBB+ | 75.0 | ||
05 Aug 2024 | 2.05 | 106.69 | 1.32 | 4.00 | BBB+ | 60.0 | ||
16 Jun 2025 | 2.35 | 111.78 | 1.48 | 5.00 | BBB+ | 75.0 | ||
13 Aug 2026 | 2.55 | 99.84 | 1.49 | 2.50 | ||||
01 Apr 2030 | 2.40 | 107.83 | 0.76 | 4.00 | ||||
Westpac New Zealand | 28 Apr 2021 | 0.30 | 101.85 | 3.80 | AA- | 700.0 | ||
01 Sep 2021 | 1.70 | 102.65 | 4.70 | BBB+ | 400.0 | |||
07 Jun 2022 | 0.45 | 105.07 | 0.07 | 3.78 | AA- | |||
23 Mar 2023 | 0.65 | 107.91 | 0.14 | 3.72 | AA- | 550.0 | ||
29 Jul 2024 | 1.05 | 104.10 | 0.32 | 2.22 | AA- | 900.0 | ||
20 Feb 2025 | 1.25 | 103.27 | 0.43 | 2.08 | AA- | 500.0 | ||
Z Energy | 01 Nov 2021 | 1.40 | 102.05 | 4.01 | 200.0 | |||
01 Nov 2023 | 1.70 | 107.16 | 1.09 | 4.32 | 200.0 | |||
03 Sep 2024 | 1.90 | 107.07 | 1.15 | 4.00 |
Subordinated Callable Bonds
Convertible Bonds
Issuer | Election or Conversion Date |
Yield to Election/ Conversion |
Swap Spread |
Coupon | Next Call | Credit Rating | Amt $m |
---|---|---|---|---|---|---|---|
Fletcher Building Industries | 15 Mar 2022 | 2.75 | 2.40 | 5.00 | 100.0 | ||
IAG | 15 Jun 2022 | 5.15 | 15 Jun 2022 | BBB | 350.0 | ||
Infratil | 15 Jun 2024 | 2.95 | 2.24 | 5.50 | 56.1 |
Capital Bond
Issuer | Maturity Date |
Yield to Maturity |
Indicative Price | Swap Spread |
Coupon | Credit Rating | Amt $m | |
---|---|---|---|---|---|---|---|---|
Fletcher Building Industries | 15 Mar 2021 | 4.75 | 102.16 | 4.75 | 100.0 | |||
15 Mar 2023 | 2.60 | 107.03 | 2.09 | 5.25 | 100.0 | |||
15 Mar 2024 | 2.65 | 108.77 | 1.98 | 4.90 | ||||
The Cooperative Bank Ltd | 28 Jul 2021 | 4.30 | 3.25 | 6.00 | BBB | 30.0 | ||
Vector | 15 Jun 2022 | 2.20 | 1.81 | 5.70 | BB+ |
Perpetual Callable Bonds
Redeemable Preference Shares
Structured Credit
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 Limited | 06 Dec 2028 | 107.06 | 4.85 | 06 Dec 2023 | |||||
TrustPower | 22 Feb 2029 | 105.00 | 3.97 | 22 Feb 2024 | |||||
Infratil | 15 Dec 2028 | 103.44 | 4.85 | 15 Dec 2023 | 122.0 |
Perpetual Callable Bonds
Redeemable Preference Shares
Redeemable Convertible Preference Shares
Floating Rate Issues