Bond Issues

Indicative yields and prices as at 11:00 am, September 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

NZ Government Stock and NZ Interest Rate Swap Rates

 

NZ Government Stock

Maturity Yield to
Maturity
Indicative Price $ Swap
Spread
15 Mar 20191.65101.70
15 Apr 20201.66103.42-0.34
15 May 20211.70113.25-0.41
15 Apr 20231.90118.07-0.39
15 Apr 20252.19104.73-0.28
15 Apr 20272.41118.22-0.25
20 Apr 20292.58105.14-0.27
14 Apr 20332.77110.36
15 Apr 2037

NZFMA

Maturity Quarterly Rate
3 mth bills1.89
1 year1.95
2 year2.00
3 year2.10
4 year2.22
5 year2.35
7 year2.60
10 year2.88

Fixed Rate Issues

 

Senior Bonds

Issuer Maturity
Date
Yield to
Maturity
Indicative Price Swap
Spread
Coupon Credit Rating Amt $m
ANZ National Bank20 Sep 20186.086.08AA-125.0
27 Feb 20192.10101.795.43AA-400.0
25 Sep 20203.05102.851.004.03AA-225.0
22 Mar 20212.70103.100.614.00AA-325.0
02 Sep 20212.75101.810.623.33AA-200.0
01 Sep 20223.00102.980.773.75AA-275.0
30 May 20233.20103.310.903.70AA-500.0
01 Sep 20233.20102.530.883.71AA-150.0
ASB Bank15 Jun 20193.60102.326.65BBB+400.0
25 Feb 20202.35103.220.364.42AA-200.0
26 May 20212.70105.300.594.25AA-650.0
24 Feb 20222.85104.700.674.20AA-100.0
07 Sep 20233.30100.180.983.31AA-450.0
Auckland Council 18 Dec 20182.00101.724.41AA125.0
30 Mar 20202.15102.780.153.04AA250.0
24 Sep 20202.20103.520.154.02AA250.0
27 Jun 20232.75102.610.443.17AA
25 Mar 20243.30114.370.925.81AA+200.0
27 Jul 20263.40100.090.803.34AA160.0
Auckland International Airport13 Dec 20192.30104.220.334.73A-100.0
13 Dec 20192.30104.220.334.73A-100.0
28 May 20213.04109.130.935.52A-150.0
09 Nov 20222.95106.720.704.28A-100.0
17 Apr 20233.00104.280.713.64A-
02 Nov 20233.15105.380.813.97A-225.0
Bank of China17 Oct 20223.40104.361.164.09A
19 Apr 20233.50103.891.214.02A
Bank of New Zealand20 Dec 20182.05102.546.10AA-200.0
25 Jun 20192.20103.875.57AA-200.0
18 Jun 20202.45104.500.434.43AA-575.0
27 Jul 20222.90104.050.683.86AA-
15 Jun 20233.20105.040.904.10AA-250.0
China Construction Bank (New Zealand)09 Nov 20223.40103.481.153.93A
19 Jun 20233.60102.791.304.01A
Chorus Limited06 May 20213.35102.451.254.12BBB400.0
Christchurch City Holdings Limited06 Dec 20222.80103.360.553.40A+
Christchurch International Airport06 Dec 20192.65104.460.685.15BBB+50.0
04 Oct 20213.10111.970.966.25BBB+75.0
24 May 20243.60104.051.214.13100.0
Contact Energy 15 May 20192.90102.615.80BBB222.0
15 Nov 20213.45104.341.304.40BBB125.0
15 Nov 20223.35105.411.104.63BBB125.0
Fonterra Co-operative Group20 Oct 20212.85106.160.704.33A-350.0
07 Mar 20233.20105.210.924.42A-150.0
Genesis Energy18 Mar 20223.20103.131.024.14BBB+100.0
09 Jun 20224.15105.511.945.70BB+225.0
16 Jul 20484.24102.811.934.65BB+240.0
Goodman Property Trust16 Dec 20202.90108.740.836.20BBB+100.0
23 Jun 20223.30107.191.095.00BBB+100.0
01 Sep 20233.45102.711.134.00BBB+100.0
31 May 20243.65105.941.264.54BBB+100.0
Heartland Bank Limited21 Sep 20223.40104.091.174.50BBB150.0
Infratil15 Nov 20194.10103.762.146.7568.5
15 Jun 20224.25109.602.046.85100.0
15 Dec 20224.35105.112.105.6579.3
15 Sep 20234.60103.882.275.2560.0
15 Jun 20254.60109.052.116.1535.0
Investore Property18 Apr 20243.95103.031.574.40100.0
Kiwi Property Group 20 Aug 20213.10108.970.976.15125.0
07 Sep 20233.50102.421.184.00125.0
19 Dec 20243.75104.321.314.33BBB+
Meridian Energy14 Mar 20233.40104.761.124.53BBB+150.0
20 Mar 20243.60106.361.234.88BBB+150.0
27 Jun 20253.75103.721.264.21BBB+
NZ Government15 Mar 20191.65101.705.00AA+7428.0
15 Apr 20201.66103.42-0.345.00AA+2000.0
15 May 20211.70113.25-0.416.00AA+11644.0
15 Apr 20231.90118.07-0.395.50AA+1754.0
15 Apr 20252.19104.73-0.282.75AA+1700.0
15 Apr 20272.41118.22-0.254.50AA+5700.0
20 Apr 20292.58105.14-0.273.00AA+2150.0
14 Apr 20332.77110.363.50AA+2000.0
15 Apr 20372.75AA+2000.0
NZ Local Govt Funding Agency15 Mar 20192.13101.565.00AA+50.0
15 Apr 20202.31102.840.313.00AA+20.0
15 May 20212.55111.970.446.00AA+215.0
14 Apr 20222.75AA+200.0
15 Apr 20233.01115.260.725.50AA+65.0
15 Apr 20252.90100.310.432.75AA+325.0
15 Apr 20273.65111.640.994.50AA+200.0
14 Apr 20333.8297.993.50AA+125.0
NZ Post Group Finance15 Nov 20193.85105.021.896.35BB+200.0
NZX Limited20 Jun 20334.305.4040.0
Precinct Properties New Zealand Ltd17 Dec 20213.35108.121.195.5475.0
27 Nov 20243.95103.971.514.42
Property for Industry28 Nov 20243.95103.811.514.59
Rabobank New Zealand15 Mar 20192.20101.966.10AA-0.0
10 Jun 20202.550.534.59A+200.0
Sky City Entertainment Group28 Sep 20223.60103.831.374.65BBB-125.0
Sky Network Television31 Mar 20214.00106.801.916.25100.0
Spark Finance10 Mar 20233.15105.790.874.51100.0
07 Mar 20243.30100.490.933.37A-125.0
07 Sep 20263.75101.461.143.94A-125.0
Summerset Group Holdings Limited11 Jul 20233.80105.231.494.78100.0
The Warehouse Group15 Jun 20203.55104.341.535.30125.0
Transpower30 Nov 20182.05102.175.14AA-125.0
06 Sep 20192.50102.464.65AA-200.0
10 Jun 20202.35109.660.336.95AA-150.0
30 Jun 20222.70106.680.494.30AA-75.0
16 Sep 20222.80104.820.574.07AA-100.0
15 Mar 20232.90110.740.625.45AA-50.0
06 Mar 20253.35102.890.893.82AA-125.0
15 Mar 20283.85116.211.105.89AA-100.0
TrustPower 15 Sep 20193.75103.004.00140.0
15 Dec 20213.60106.271.445.63125.0
15 Dec 20223.60101.681.354.01127.7
WEL Networks Limited02 Aug 20234.10104.191.794.90150.0
Wellington International Airport15 May 20213.05110.280.946.25BBB+75.0
12 May 20233.45104.931.164.25BBB+75.0
05 Aug 20243.70102.091.294.00BBB+60.0
16 Jun 20254.21108.401.725.00BBB+75.0
Westpac New Zealand20 Sep 20185.555.55AA-800.0
12 Jul 20192.20103.805.61AA-100.0
28 Apr 20212.65104.400.553.80AA-700.0
01 Sep 20213.75102.891.624.70BBB+400.0
07 Jun 20222.90104.160.693.78AA-
23 Mar 20233.15102.370.873.72AA-550.0
Z Energy15 Nov 20193.15104.431.196.50135.0
01 Nov 20213.40102.361.243.95200.0
01 Nov 20233.75103.251.414.32200.0
03 Sep 20243.84101.061.424.00

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 National 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 20194.705.4075.0
15 Mar 20224.652.475.00100.0
IAG15 Jun 20225.1515 Jun 2022BBB350.0
Infratil15 Jun 20244.402.005.5056.1
15 Jun 20166.008.5015 Jun 2016100.0
15 Feb 20204.102.118.5020 Feb 202080.5

Capital Bond

Issuer Maturity
Date
Yield to
Maturity
Indicative Price Swap
Spread
Coupon Credit Rating Amt $m
Fletcher Building Industries15 Mar 20194.30101.156.4580.5
15 Mar 20204.35102.172.355.8093.2
15 Mar 20214.50100.672.414.75100.0
15 Mar 20234.55101.902.275.25100.0
Infratil15 Nov 20184.10101.106.85111.4
The Cooperative Bank Ltd28 Jul 20215.002.406.00BBB30.0
Vector15 Jun 20224.201.995.70BB+

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 SecuritiesPerpetual103.408.3418 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 2025103.525.3117 Dec 20205 year swap2.251608116400BBB+550.0

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 GroupPerpetual96.004.6910 Jul 20162.742.20ContinuousBBB+35.0
InfratilPerpetual74.503.6315 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
ASB CapitalPerpetual89.703.4215 Nov 20181 yr swap plus 1.30ContinuousBBB149.0
ASB Capital No 2Perpetual86.903.0315 May 20181 yr swap plus 1.00ContinuousBBB245.7
Motor Trade Finances Perpetual62.404.4701 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 2016105.506.0515 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
ANZ National Bank22 Mar 20193.0324 Sep 20183 Month Bank Bill Rate1.00300.0

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 20189450.005.8907 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