Indicative yields and prices as at 11:00 am, November 19, 2018
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
| Maturity | Yield to Maturity |
Indicative Price $ | Swap Spread |
|---|---|---|---|
| 15 Mar 2019 | 1.69 | 101.97 | |
| 15 Apr 2020 | 1.82 | 102.00 | -0.28 |
| 15 May 2021 | 1.91 | 110.06 | -0.29 |
| 15 Apr 2023 | 2.10 | 114.78 | -0.28 |
| 15 Apr 2025 | 2.37 | 102.77 | -0.20 |
| 15 Apr 2027 | 2.55 | 115.45 | -0.21 |
| 20 Apr 2029 | 2.66 | 103.34 | -0.29 |
| 14 Apr 2033 | 2.87 | 108.25 | |
| 15 Apr 2037 |
| Issuer | Maturity Date |
Yield to Maturity |
Indicative Price | Swap Spread |
Coupon | Credit Rating | Amt $m | |
|---|---|---|---|---|---|---|---|---|
| ANZ Bank | 27 Feb 2019 | 2.15 | 102.13 | 5.43 | AA- | 400.0 | ||
| 25 Sep 2020 | 3.05 | 103.10 | 0.91 | 4.03 | AA- | 225.0 | ||
| 22 Mar 2021 | 2.80 | 103.36 | 0.61 | 4.00 | AA- | 325.0 | ||
| 02 Sep 2021 | 2.90 | 101.88 | 0.67 | 3.33 | AA- | 200.0 | ||
| 01 Sep 2022 | 3.15 | 102.96 | 0.83 | 3.75 | AA- | 275.0 | ||
| 30 May 2023 | 3.35 | 101.38 | 0.96 | 3.70 | AA- | 500.0 | ||
| 01 Sep 2023 | 3.35 | 102.41 | 0.93 | 3.71 | AA- | 150.0 | ||
| ASB Bank | 15 Jun 2019 | 3.65 | 102.91 | 6.65 | BBB+ | 400.0 | ||
| 25 Feb 2020 | 2.45 | 103.50 | 0.36 | 4.42 | AA- | 200.0 | ||
| 26 May 2021 | 2.90 | 105.30 | 0.70 | 4.25 | AA- | 650.0 | ||
| 24 Feb 2022 | 3.05 | 104.56 | 0.78 | 4.20 | AA- | 100.0 | ||
| 07 Sep 2023 | 3.45 | 100.08 | 1.03 | 3.31 | AA- | 450.0 | ||
| Auckland Council | 18 Dec 2018 | 1.95 | 102.06 | 4.41 | AA | 125.0 | ||
| 30 Mar 2020 | 2.25 | 101.49 | 0.16 | 3.04 | AA | 250.0 | ||
| 24 Sep 2020 | 2.35 | 103.63 | 0.21 | 4.02 | AA | 250.0 | ||
| 27 Jun 2023 | 2.95 | 102.22 | 0.55 | 3.17 | AA | |||
| 25 Mar 2024 | 3.30 | 113.89 | 0.83 | 5.81 | AA+ | 200.0 | ||
| 27 Jul 2026 | 3.55 | 99.65 | 0.86 | 3.34 | AA | 160.0 | ||
| Auckland International Airport | 13 Dec 2019 | 2.45 | 104.46 | 0.38 | 4.73 | A- | 100.0 | |
| 13 Dec 2019 | 2.45 | 104.46 | 0.38 | 4.73 | A- | 100.0 | ||
| 28 May 2021 | 3.04 | 109.10 | 0.84 | 5.52 | A- | 150.0 | ||
| 09 Nov 2022 | 3.15 | 104.33 | 0.81 | 4.28 | A- | 100.0 | ||
| 17 Apr 2023 | 3.20 | 102.15 | 0.82 | 3.64 | A- | |||
| 02 Nov 2023 | 3.35 | 103.02 | 0.92 | 3.97 | A- | 225.0 | ||
| 10 Oct 2024 | 3.55 | 100.20 | 1.03 | 3.51 | A- | |||
| Bank of China | 17 Oct 2022 | 3.55 | 102.35 | 1.22 | 4.09 | A | ||
| 19 Apr 2023 | 3.65 | 101.87 | 1.27 | 4.02 | A | |||
| Bank of New Zealand | 20 Dec 2018 | 2.00 | 102.89 | 6.10 | AA- | 200.0 | ||
| 25 Jun 2019 | 2.25 | 104.22 | 5.57 | AA- | 200.0 | |||
| 18 Jun 2020 | 2.55 | 104.77 | 0.44 | 4.43 | AA- | 575.0 | ||
| 27 Jul 2022 | 3.15 | 103.67 | 0.84 | 3.86 | AA- | |||
| 15 Jun 2023 | 3.35 | 104.95 | 0.95 | 4.10 | AA- | 250.0 | ||
| 16 Nov 2023 | 3.52 | 100.64 | 1.08 | 3.65 | ||||
| China Construction Bank (New Zealand) | 09 Nov 2022 | 3.60 | 101.36 | 1.26 | 3.93 | A | ||
| 19 Jun 2023 | 3.75 | 102.77 | 1.35 | 4.01 | A | |||
| Chorus Limited | 06 May 2021 | 3.60 | 101.40 | 1.40 | 4.12 | BBB | 400.0 | |
| Christchurch City Holdings Limited | 06 Dec 2022 | 3.00 | 103.08 | 0.65 | 3.40 | A+ | ||
| Christchurch International Airport | 06 Dec 2019 | 2.65 | 104.92 | 0.59 | 5.15 | BBB+ | 50.0 | |
| 04 Oct 2021 | 3.00 | 109.70 | 0.76 | 6.25 | BBB+ | 75.0 | ||
| 24 May 2024 | 3.60 | 104.67 | 1.12 | 4.13 | 100.0 | |||
| Contact Energy | 15 May 2019 | 2.90 | 101.56 | 5.80 | BBB | 222.0 | ||
| 15 Nov 2021 | 3.45 | 103.48 | 1.20 | 4.40 | BBB | 125.0 | ||
| 15 Nov 2022 | 3.40 | 104.65 | 1.06 | 4.63 | BBB | 125.0 | ||
| Fonterra Co-operative Group | 20 Oct 2021 | 3.10 | 103.79 | 0.86 | 4.33 | A- | 350.0 | |
| 07 Mar 2023 | 3.35 | 105.17 | 0.98 | 4.42 | A- | 150.0 | ||
| 14 Nov 2025 | 4.08 | 100.51 | 4.15 | 100.0 | ||||
| Genesis Energy | 18 Mar 2022 | 3.40 | 103.04 | 1.12 | 4.14 | BBB+ | 100.0 | |
| 09 Jun 2022 | 4.30 | 105.74 | 2.00 | 5.70 | BB+ | 225.0 | ||
| 16 Jul 2048 | 4.40 | 101.72 | 2.00 | 4.65 | BB+ | 240.0 | ||
| Goodman Property Trust | 16 Dec 2020 | 3.15 | 108.74 | 0.99 | 6.20 | BBB+ | 100.0 | |
| 23 Jun 2022 | 3.55 | 106.91 | 1.25 | 5.00 | BBB+ | 100.0 | ||
| 01 Sep 2023 | 3.65 | 102.42 | 1.23 | 4.00 | BBB+ | 100.0 | ||
| 31 May 2024 | 3.95 | 105.07 | 1.46 | 4.54 | BBB+ | 100.0 | ||
| Heartland Bank Limited | 21 Sep 2022 | 3.60 | 103.96 | 1.27 | 4.50 | BBB | 150.0 | |
| Infratil | 15 Nov 2019 | 4.30 | 102.47 | 6.75 | 68.5 | |||
| 15 Jun 2022 | 4.30 | 109.66 | 2.00 | 6.85 | 100.0 | |||
| 15 Dec 2022 | 4.40 | 105.68 | 2.05 | 5.65 | 79.3 | |||
| 15 Sep 2023 | 4.60 | 104.21 | 2.18 | 5.25 | 60.0 | |||
| 15 Dec 2024 | 4.65 | 100.20 | 0.00 | 4.75 | 57.3 | |||
| 15 Jun 2025 | 4.70 | 109.30 | 2.12 | 6.15 | 35.0 | |||
| Investore Property | 18 Apr 2024 | 4.30 | 100.90 | 1.82 | 4.40 | 100.0 | ||
| Kiwi Property Group | 20 Aug 2021 | 3.35 | 108.85 | 1.12 | 6.15 | 125.0 | ||
| 07 Sep 2023 | 3.90 | 101.27 | 1.48 | 4.00 | 125.0 | |||
| 19 Dec 2024 | 4.10 | 103.07 | 1.56 | 4.33 | BBB+ | |||
| 12 Nov 2025 | 4.20 | 99.27 | 1.58 | 4.06 | 100.0 | |||
| Meridian Energy | 14 Mar 2023 | 3.60 | 104.54 | 1.23 | 4.53 | BBB+ | 150.0 | |
| 20 Mar 2024 | 3.80 | 106.01 | 1.33 | 4.88 | BBB+ | 150.0 | ||
| 27 Jun 2025 | 3.90 | 103.49 | 1.31 | 4.21 | BBB+ | |||
| NZ Government | 15 Mar 2019 | 1.69 | 101.97 | 5.00 | AA+ | 7428.0 | ||
| 15 Apr 2020 | 1.82 | 102.00 | -0.28 | 5.00 | AA+ | 2000.0 | ||
| 15 May 2021 | 1.91 | 110.06 | -0.29 | 6.00 | AA+ | 11644.0 | ||
| 15 Apr 2023 | 2.10 | 114.78 | -0.28 | 5.50 | AA+ | 1754.0 | ||
| 15 Apr 2025 | 2.37 | 102.77 | -0.20 | 2.75 | AA+ | 1700.0 | ||
| 15 Apr 2027 | 2.55 | 115.45 | -0.21 | 4.50 | AA+ | 5700.0 | ||
| 20 Apr 2029 | 2.66 | 103.34 | -0.29 | 3.00 | AA+ | 2150.0 | ||
| 14 Apr 2033 | 2.87 | 108.25 | 3.50 | AA+ | 2000.0 | |||
| 15 Apr 2037 | 2.75 | AA+ | 2000.0 | |||||
| NZ Local Govt Funding Agency | 15 Mar 2019 | 2.13 | 101.85 | 5.00 | AA+ | 50.0 | ||
| 15 Apr 2020 | 2.31 | 101.42 | 0.21 | 3.00 | AA+ | 20.0 | ||
| 15 May 2021 | 2.55 | 108.74 | 0.35 | 6.00 | AA+ | 215.0 | ||
| 14 Apr 2022 | 2.59 | 0.30 | 2.75 | AA+ | 200.0 | |||
| 15 Apr 2023 | 3.01 | 111.75 | 0.63 | 5.50 | AA+ | 65.0 | ||
| 15 Apr 2025 | 3.16 | 97.93 | 0.59 | 2.75 | AA+ | 325.0 | ||
| 15 Apr 2027 | 3.65 | 108.06 | 0.89 | 4.50 | AA+ | 200.0 | ||
| 14 Apr 2033 | 4.07 | 94.21 | 3.50 | AA+ | 125.0 | |||
| NZ Post Group Finance | 15 Nov 2019 | 3.75 | 102.60 | 6.35 | BB+ | 200.0 | ||
| NZX Limited | 20 Jun 2033 | 4.35 | 105.27 | 5.40 | 40.0 | |||
| Precinct Properties New Zealand Ltd | 17 Dec 2021 | 3.50 | 108.28 | 1.24 | 5.54 | 75.0 | ||
| 27 Nov 2024 | 4.10 | 101.63 | 1.57 | 4.42 | ||||
| Property for Industry | 28 Nov 2024 | 4.10 | 102.53 | 1.57 | 4.59 | 100.0 | ||
| 01 Oct 2025 | 4.40 | 1.79 | 4.25 | 100.0 | ||||
| Rabobank New Zealand | 15 Mar 2019 | 2.20 | 102.33 | 6.10 | AA- | 0.0 | ||
| 10 Jun 2020 | 2.64 | 0.53 | 4.59 | A+ | 200.0 | |||
| Sky City Entertainment Group | 28 Sep 2022 | 3.65 | 104.28 | 1.32 | 4.65 | BBB- | 125.0 | |
| Sky Network Television | 31 Mar 2021 | 4.10 | 105.70 | 1.91 | 6.25 | 100.0 | ||
| Spark Finance | 10 Mar 2023 | 3.30 | 105.74 | 0.93 | 4.51 | 100.0 | ||
| 07 Mar 2024 | 3.55 | 99.84 | 1.09 | 3.37 | A- | 125.0 | ||
| 07 Sep 2026 | 3.90 | 101.09 | 1.20 | 3.94 | A- | 125.0 | ||
| Summerset Group Holdings Limited | 11 Jul 2023 | 3.85 | 104.48 | 1.45 | 4.78 | 100.0 | ||
| 24 Sep 2025 | 4.15 | 100.98 | 1.54 | 4.20 | 125.0 | |||
| The Warehouse Group | 15 Jun 2020 | 3.60 | 104.88 | 1.49 | 5.30 | 125.0 | ||
| Transpower | 30 Nov 2018 | 1.95 | 102.53 | 5.14 | AA- | 125.0 | ||
| 06 Sep 2019 | 2.50 | 102.81 | 4.65 | AA- | 200.0 | |||
| 10 Jun 2020 | 2.45 | 109.93 | 0.34 | 6.95 | AA- | 150.0 | ||
| 30 Jun 2022 | 2.90 | 106.45 | 0.59 | 4.30 | AA- | 75.0 | ||
| 16 Sep 2022 | 3.00 | 104.58 | 0.67 | 4.07 | AA- | 100.0 | ||
| 15 Mar 2023 | 3.15 | 110.22 | 0.78 | 5.45 | AA- | 50.0 | ||
| 06 Mar 2025 | 3.50 | 102.62 | 0.94 | 3.82 | AA- | 125.0 | ||
| 15 Mar 2028 | 4.00 | 115.70 | 1.16 | 5.89 | AA- | 100.0 | ||
| TrustPower | 15 Sep 2019 | 3.95 | 4.00 | 140.0 | ||||
| 15 Dec 2021 | 3.60 | 106.91 | 1.34 | 5.63 | 125.0 | |||
| 15 Dec 2022 | 3.70 | 101.91 | 1.35 | 4.01 | 127.7 | |||
| Turners Automotive Group Limited | 30 Sep 2021 | 4.50 | 2.26 | 5.50 | 25.0 | |||
| WEL Networks Limited | 02 Aug 2023 | 4.40 | 102.38 | 1.99 | 4.90 | 150.0 | ||
| Wellington International Airport | 15 May 2021 | 3.10 | 107.59 | 0.90 | 6.25 | BBB+ | 75.0 | |
| 12 May 2023 | 3.55 | 102.99 | 1.16 | 4.25 | BBB+ | 75.0 | ||
| 05 Aug 2024 | 3.80 | 102.20 | 1.30 | 4.00 | BBB+ | 60.0 | ||
| 16 Jun 2025 | 4.21 | 108.19 | 1.63 | 5.00 | BBB+ | 75.0 | ||
| Westpac New Zealand | 20 Sep 2018 | 5.55 | 5.55 | AA- | 800.0 | |||
| 12 Jul 2019 | 2.25 | 104.14 | 5.61 | AA- | 100.0 | |||
| 28 Apr 2021 | 2.80 | 102.60 | 0.60 | 3.80 | AA- | 700.0 | ||
| 01 Sep 2021 | 3.95 | 103.01 | 1.72 | 4.70 | BBB+ | 400.0 | ||
| 07 Jun 2022 | 3.10 | 103.98 | 0.80 | 3.78 | AA- | |||
| 23 Mar 2023 | 3.30 | 102.30 | 0.93 | 3.72 | AA- | 550.0 | ||
| Z Energy | 15 Nov 2019 | 3.25 | 103.25 | 6.50 | 135.0 | |||
| 01 Nov 2021 | 3.55 | 101.51 | 1.29 | 3.95 | 200.0 | |||
| 01 Nov 2023 | 3.80 | 102.58 | 1.37 | 4.32 | 200.0 | |||
| 03 Sep 2024 | 3.95 | 101.14 | 1.44 | 4.00 |
| Issuer | Election or Conversion Date |
Yield to Election/ Conversion |
Swap Spread |
Coupon | Next Call | Credit Rating | Amt $m |
|---|---|---|---|---|---|---|---|
| ANZ Bank | 25 May 2020 | 7.20 | 25 May 2020 | BBB- | 250.0 | ||
| Fletcher Building Industries | 15 Mar 2017 | 5.95 | 7.50 | 15 Mar 2017 | 68.3 | ||
| TrustPower | 15 Dec 2015 | 8.40 | 8.40 | 15 Dec 2015 | 100.0 | ||
| Fletcher Building Industries | 15 Mar 2019 | 4.70 | 5.40 | 75.0 | |||
| 15 Mar 2022 | 4.70 | 2.42 | 5.00 | 100.0 | |||
| IAG | 15 Jun 2022 | 5.15 | 15 Jun 2022 | BBB | 350.0 | ||
| Infratil | 15 Jun 2024 | 4.55 | 2.06 | 5.50 | 56.1 | ||
| 15 Jun 2016 | 6.00 | 8.50 | 15 Jun 2016 | 100.0 | |||
| 15 Feb 2020 | 4.05 | 1.97 | 8.50 | 20 Feb 2020 | 80.5 |
| Issuer | Maturity Date |
Yield to Maturity |
Indicative Price | Swap Spread |
Coupon | Credit Rating | Amt $m | |
|---|---|---|---|---|---|---|---|---|
| Fletcher Building Industries | 15 Mar 2019 | 4.50 | 101.81 | 6.45 | 80.5 | |||
| 15 Mar 2020 | 4.35 | 102.91 | 2.26 | 5.80 | 93.2 | |||
| 15 Mar 2021 | 4.40 | 101.65 | 2.22 | 4.75 | 100.0 | |||
| 15 Mar 2023 | 4.75 | 101.90 | 2.38 | 5.25 | 100.0 | |||
| Infratil | 15 Nov 2018 | 4.10 | 6.85 | 111.4 | ||||
| The Cooperative Bank Ltd | 28 Jul 2021 | 5.08 | 2.39 | 6.00 | BBB | 30.0 | ||
| Vector | 15 Jun 2022 | 4.25 | 107.24 | 1.95 | 5.70 | BB+ |
| Issuer | Maturity Date | Price | Current Coupon |
Coupon Reset Date |
Coupon Base |
Coupon Margin |
Next Call |
Credit Rating | Amt $m |
|---|---|---|---|---|---|---|---|---|---|
| Rabo Capital Securities | Perpetual | 103.50 | 8.34 | 18 Jun 2019 | 5 yr swap plus | 3.75 | Continuous | BBB- | 280.0 |
| Issuer | Maturity Date | Price | Current Coupon |
Coupon Reset Date |
Coupon Base |
Coupon Margin |
Next Call |
Credit Rating | Amt $m |
|---|---|---|---|---|---|---|---|---|---|
| Bank of New Zealand | 17 Dec 2025 | 103.86 | 5.31 | 17 Dec 2020 | 5 year swap | 2.25 | 1608116400 | BBB+ | 550.0 |
| Infratil | 15 Dec 2028 | 100.13 | 4.85 | 15 Dec 2023 | 122.0 |
| Issuer | Maturity Date | Price | Current Coupon |
Coupon Reset Date |
Coupon Base |
Coupon Margin |
Next Call |
Credit Rating | Amt $m |
|---|---|---|---|---|---|---|---|---|---|
| Fonterra Co-operative Group | Perpetual | 97.00 | 4.69 | 10 Jul 2016 | 2.74 | 2.20 | Continuous | BBB+ | 35.0 |
| Infratil | Perpetual | 74.00 | 3.63 | 15 Nov 2017 | 1 yr swap plus | 1.50 | Continuous | 238.0 |
| Issuer | Maturity Date | Price | Current Coupon |
Coupon Reset Date |
Coupon Base |
Coupon Margin |
Next Call |
Credit Rating | Amt $m |
|---|---|---|---|---|---|---|---|---|---|
| ASB Capital | Perpetual | 89.80 | 3.42 | 15 Nov 2018 | 1 yr swap plus | 1.30 | Continuous | BBB | 149.0 |
| ASB Capital No 2 | Perpetual | 87.00 | 3.03 | 15 May 2018 | 1 yr swap plus | 1.00 | Continuous | BBB | 245.7 |
| Motor Trade Finances | Perpetual | 63.50 | 4.47 | 01 Oct 2018 | 1 yr swap plus | 2.40 | Continuous | 40.0 |
| 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 2016 | 105.00 | 6.05 | 15 Jun 2018 | 1 yr swap plus | 4.05 | Continuous | 200.0 |
| Issuer | Maturity Date |
Yield to Reset Date |
Swap Spread |
Coupon | Coupon Reset Date | Coupon Base | Coupon Margin | Credit Rating | Amt $m |
|---|---|---|---|---|---|---|---|---|---|
| ANZ Bank | 22 Mar 2019 | 3.03 | 24 Sep 2018 | 3 Month Bank Bill Rate | 1.00 | 300.0 |
| 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 2018 | 9105.00 | 5.89 | 07 Apr 2018 | 6m A$ BBSW plus | 3.90 | Continuous | BB | 251.0 |
