NZ Debt Management Office appoints bank panel to sell up to NZ$2 billion worth of 7-year bonds next month

The New Zealand Debt Management Office (NZDMO) says it plans to issue up to NZ$2 billion worth of seven-year bonds next month.

A unit of Treasury that manages the government's debt, the NZDMO has appointed a syndicate of four banks to sell its new April 2020 bond. The joint lead managers of the syndicate are ANZ Bank New Zealand,
Bank of New Zealand, Deutsche Bank AG, New Zealand Branch, and Westpac Banking Corporation (acting through its New Zealand Branch).

"The NZDMO expects to issue up to NZ$2 billion of these bonds via syndication in April, subject to market conditions," NZDMO Treasurer Brendon Doyle said in a statement.

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While the DMO waits for April, Kiwibank forged ahead with it's inaugural covered bond issue.
Kiwibank issued its first-ever covered bond on March 25, selling CHF150 million (US$158.1 million) in a December 2020 maturity deal that is also the bank’s first public, unguaranteed issue into a foreign currency market. The new deal was widely distributed to a wide range of investors, and Kiwibank says it hopes to return to the Swiss franc market periodically. Kanga news
Gareth, we really need to know whether NZ Post repo financed (rp) the whole issue for it's own book.
I also guess the proceeds will be swapped back to NZD via the USD providing another opportunity for another NZ bank to line up a fixed paying borrower.