Bond Issues

Indicative yields and prices as at 11:00 am, May 23, 2019

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 20201.34101.80
15 May 20211.33109.23-0.28
15 Apr 20231.36116.36-0.36
15 Apr 20251.41107.85-0.42
15 Apr 20271.57122.16-0.36
20 Apr 20291.72111.90-0.32
14 Apr 20331.91119.71
15 Apr 20372.05110.75

NZFMA

Maturity Quarterly Rate
3 mth bills1.71
1 year1.56
2 year1.53
3 year1.55
4 year1.59
5 year1.66
7 year1.82
10 year2.05

Fixed Rate Issues

 

Senior Bonds

Issuer Maturity
Date
Yield to
Maturity
Indicative Price Swap
Spread
Coupon Credit Rating Amt $m
ANZ Bank25 Sep 20201.92103.460.344.03AA-225.0
22 Mar 20212.03104.270.424.00AA-325.0
02 Sep 20212.09103.590.463.33AA-200.0
01 Sep 20222.25105.570.573.75AA-275.0
30 May 20232.35105.100.633.70AA-500.0
01 Sep 20232.36106.350.623.71AA-150.0
20 Mar 20242.50102.940.732.95
Argosy Property Limited27 Mar 20263.511.634.00
ASB Bank15 Jun 20192.15101.546.65BBB+400.0
25 Feb 20201.75103.084.42AA-200.0
26 May 20212.01104.380.404.25AA-650.0
24 Feb 20222.15106.500.494.20AA-100.0
07 Sep 20232.40104.400.663.31AA-450.0
Auckland Council 18 Dec 20181.954.41AA125.0
30 Mar 20201.75101.553.04AA250.0
24 Sep 20201.70103.720.124.02AA250.0
27 Jun 20232.00105.880.273.17AA
25 Mar 20242.10117.920.335.81AA+200.0
27 Jul 20262.50106.570.613.34AA160.0
Auckland International Airport13 Dec 20192.01103.644.73A-100.0
13 Dec 20192.01103.644.73A-100.0
28 May 20212.05106.860.435.52A-150.0
09 Nov 20222.20107.080.514.28A-100.0
17 Apr 20232.29105.540.573.64A-
02 Nov 20232.39107.040.643.97A-225.0
10 Oct 20242.57105.230.773.51A-
Bank of China17 Oct 20222.55105.410.864.09A
19 Apr 20232.70105.260.984.02A
Bank of New Zealand25 Jun 20191.75102.645.57AA-200.0
18 Jun 20201.85104.630.294.43AA-575.0
27 Jul 20222.20106.310.523.86AA-
15 Jun 20232.35108.560.624.10AA-250.0
16 Nov 20232.45105.140.703.65
China Construction Bank (New Zealand)09 Nov 20222.60104.550.913.93A
19 Jun 20232.70106.730.974.01A
Chorus Limited06 May 20212.83102.711.224.12BBB400.0
Christchurch City Holdings Limited06 Dec 20222.15105.820.453.40A+
27 Nov 20242.49105.770.693.58
Christchurch International Airport06 Dec 20192.10104.025.15BBB+50.0
04 Oct 20212.30109.900.676.25BBB+75.0
24 May 20242.60107.150.824.13100.0
Contact Energy 15 May 20195.80BBB222.0
15 Nov 20212.50104.670.864.40BBB125.0
15 Nov 20222.63106.850.944.63BBB125.0
15 Aug 20242.95103.001.163.55
Fonterra Co-operative Group20 Oct 20212.45104.800.814.33A-350.0
07 Mar 20232.68107.290.974.42A-150.0
14 Nov 20253.20105.644.15100.0
Genesis Energy18 Mar 20222.64105.060.984.14BBB+100.0
09 Jun 20223.50107.521.835.70BB+225.0
16 Jul 20483.50104.921.774.65BB+240.0
Goodman Property Trust16 Dec 20202.49108.440.906.20BBB+100.0
23 Jun 20222.75108.861.085.00BBB+100.0
01 Sep 20232.95105.111.214.00BBB+100.0
31 May 20243.06107.061.284.54BBB+100.0
Heartland Bank Limited21 Sep 20222.90105.831.214.50BBB150.0
12 Apr 20243.49101.771.723.55
Housing New Zealand12 Jun 20232.97
12 Jun 20253.36
05 Oct 20262.25
18 Oct 20283.42
Infratil15 Nov 20193.80101.576.7568.5
15 Jun 20223.90109.792.236.85100.0
15 Dec 20223.90106.892.205.6579.3
15 Sep 20233.90106.352.165.2560.0
15 Dec 20243.95104.900.004.7557.3
15 Jun 20254.10112.142.276.1535.0
Investore Property18 Apr 20243.40104.951.634.40100.0
Kiwi Property Group 20 Aug 20212.79108.941.166.15125.0
07 Sep 20233.10104.451.364.00125.0
19 Dec 20243.25107.341.444.33BBB+
12 Nov 20253.40103.951.544.06100.0
Meridian Energy14 Mar 20232.60107.840.894.53BBB+150.0
20 Mar 20242.70110.670.934.88BBB+150.0
27 Jun 20252.90109.001.064.21BBB+
NZ Government15 Apr 20201.34101.805.00AA+2000.0
15 May 20211.33109.23-0.286.00AA+11644.0
15 Apr 20231.36116.36-0.365.50AA+1754.0
15 Apr 20251.41107.85-0.422.75AA+1700.0
15 Apr 20271.57122.16-0.364.50AA+5700.0
20 Apr 20291.72111.90-0.323.00AA+2150.0
14 Apr 20331.91119.713.50AA+2000.0
15 Apr 20372.05110.752.75AA+2000.0
NZ Local Govt Funding Agency15 Apr 20201.663.00AA+20.0
15 May 20211.66108.580.056.00AA+215.0
14 Apr 20221.760.102.75AA+200.0
15 Apr 20231.84114.290.125.50AA+65.0
15 Apr 20241.96101.600.192.25AA+
15 Apr 20252.09103.950.262.75AA+325.0
15 Apr 20272.30116.370.374.50AA+200.0
14 Apr 20332.87107.693.50AA+125.0
NZ Post Group Finance15 Nov 20193.80101.356.35BB+200.0
NZX Limited20 Jun 20334.005.4040.0
Precinct Properties New Zealand Ltd17 Dec 20212.97108.781.325.5475.0
27 Nov 20243.44105.321.644.42
Property for Industry28 Nov 20243.30106.441.504.59100.0
01 Oct 20253.48105.181.634.25100.0
Rabobank New Zealand10 Jun 20201.940.384.59A+200.0
Sky City Entertainment Group28 Sep 20222.95106.131.264.65BBB-125.0
Sky Network Television31 Mar 20213.67105.672.066.25100.0
Spark Finance10 Mar 20232.41108.760.704.51100.0
07 Mar 20242.55104.410.783.37A-125.0
07 Sep 20262.80108.340.903.94A-125.0
Summerset Group Holdings Limited11 Jul 20233.15106.871.424.78100.0
24 Sep 20253.45104.971.604.20125.0
The New Zealand Refining Company Limited01 Mar 20344.355.10
The Warehouse Group15 Jun 20203.20104.521.645.30125.0
Transpower06 Sep 20191.85101.794.65AA-200.0
10 Jun 20201.85108.420.296.95AA-150.0
30 Jun 20222.00108.610.334.30AA-75.0
16 Sep 20222.05107.210.364.07AA-100.0
15 Mar 20232.10113.240.395.45AA-50.0
14 Mar 20242.30102.480.532.73AA-
06 Mar 20252.46108.200.643.82AA-125.0
15 Mar 20282.85124.700.875.89AA-100.0
TrustPower 15 Sep 20193.904.00140.0
15 Dec 20212.88107.931.245.63125.0
15 Dec 20222.91104.521.214.01127.7
Turners Automotive Group Limited30 Sep 20214.402.775.5025.0
WEL Networks Limited02 Aug 20233.65105.151.924.90150.0
Wellington International Airport15 May 20212.43107.550.826.25BBB+75.0
12 May 20232.65106.140.934.25BBB+75.0
05 Aug 20242.86106.731.074.00BBB+60.0
16 Jun 20253.00113.211.175.00BBB+75.0
01 Apr 20303.81104.291.724.00
Westpac New Zealand20 Sep 20185.555.55AA-800.0
12 Jul 20191.80102.575.61AA-100.0
28 Apr 20212.00103.660.393.80AA-700.0
01 Sep 20213.15104.461.524.70BBB+400.0
07 Jun 20222.20106.400.533.78AA-
23 Mar 20232.35105.630.643.72AA-550.0
Z Energy15 Nov 20192.80101.926.50135.0
01 Nov 20212.95102.751.313.95200.0
01 Nov 20233.05105.541.304.32200.0
03 Sep 20243.20104.781.414.00

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 20223.802.145.00100.0
IAG15 Jun 20225.1515 Jun 2022BBB350.0
Infratil15 Jun 20243.902.125.5056.1
15 Jun 20166.008.5015 Jun 2016100.0
15 Feb 20203.808.5020 Feb 202080.5

Capital Bond

Issuer Maturity
Date
Yield to
Maturity
Indicative Price Swap
Spread
Coupon Credit Rating Amt $m
Fletcher Building Industries15 Mar 20203.75102.745.8093.2
15 Mar 20213.80102.572.204.75100.0
15 Mar 20233.85105.012.145.25100.0
15 Mar 20243.95105.072.184.90
Infratil15 Nov 20184.106.85111.4
The Cooperative Bank Ltd28 Jul 20214.802.916.00BBB30.0
Vector15 Jun 20223.461.795.70BB+

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
Rabo Capital SecuritiesPerpetual101.008.3418 Jun 20195 yr swap plus3.75ContinuousBBB-280.0

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
Bank of New Zealand17 Dec 2025104.295.3117 Dec 20205 year swap2.251608116400BBB+550.0
Chorus Limited06 Dec 2028105.234.8506 Dec 2023
TrustPower 22 Feb 2029102.313.9722 Feb 2024
Infratil15 Dec 2028104.684.8515 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 GroupPerpetual100.004.6910 Jul 20162.742.20ContinuousBBB+35.0
InfratilPerpetual78.003.6315 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
Motor Trade Finances Perpetual63.004.4701 Oct 20181 yr swap plus 2.40Continuous40.0

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 2016105.206.0515 Jun 20181 yr swap plus4.05Continuous200.0

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 $m
Nufarm Finance NZ (A$)07 Apr 20188650.005.8907 Apr 20186m 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