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Test for bonds Precious metals newsletter Feb 18, 2025

The Precious Metals Newsletter

News and analysis

Bond Prices

Last updated: Thursday, February 20, 2025

 

NZ Government Bonds
Code Rating Maturity Coupon Price Spread swap Yield value
GB0425 AAA 15/04/2025 2.75 1.0084   3.81
GB0526 AAA 15/05/2026 0.50 0.9647 0.0762 3.59
GB0427 AAA 15/04/2027 4.50 1.0329 0.1082 3.68
GB0528 AAA 15/05/2028 0.25 0.8927 0.1891 3.85
GB0429 AAA 20/04/2029 3.00 0.9730 0.2438 3.99
GB0530 AAA 15/05/2030 4.50 1.0294 0.2793 4.13
GB0531 AAA 15/05/2031 1.50 0.8536 0.3370 4.28
GB0532 AAA 15/05/2032 2.00 0.8579 0.3714 4.41

 

Local Authority Bonds
Issuer Code Rating Maturity Coupon Price Spread swap Yield value
Auckland Council AKC120 AA 10/07/2025 2.01 0.9957   3.85
AKC100 AA 27/07/2026 3.34 0.9967 0.2342 3.76
AKC140 AA 20/10/2027 2.41 0.9660 0.4970 4.11
AKC150 AA 27/09/2028 5.73 1.0704 0.6159 4.31
AKC130 AA 28/09/2050 2.95 0.6448 0.9552 5.69
Christchurch City Holdings CCH030 AA 05/11/2026 3.01 0.9948 0.3476 3.89
CCH040 AA 06/04/2028 5.04 1.0419 0.6087 4.26
NZ Local Govt Funding Agency LGF070 AAA 15/04/2025 2.75 1.0082   3.92
LGF120 AAA 15/04/2026 1.50 0.9816 0.1411 3.65
LGF060 AAA 15/04/2027 4.50 1.0285 0.3182 3.89
LGF150 AAA 15/05/2028 2.25 0.9493 0.4991 4.16
LGF110 AAA 20/04/2029 1.50 0.8999 0.5538 4.30
LGF170 AAA 15/05/2030 4.50 1.0141 0.6093 4.46
LGF140 AAA 15/05/2031 2.25 0.8777 0.7070 4.65
LGF180 AAA 14/05/2032 4.50 0.9952 0.7516 4.79
LGF080 AAA 14/04/2033 3.50 0.9137 0.8898 5.00
LGF160 AAA 15/05/2035 3.00 0.8382 0.9074 5.16
LGF130 AAA 15/04/2037 2.00 0.7091 1.0136 5.37

 

Corporate Bonds
Issuer Code Rating Maturity Coupon Price Spread swap Yield value
Air New Zealand AIR030 Baa1 27/04/2028 6.61 1.0714 1.2335 4.89
ANZ Bank New Zealand ANB180 AA- 16/02/2028 5.22 1.0296 0.5509 4.19
Argosy Property ARG010 NR 27/03/2026 4.00 0.9971 1.3842 4.89
ARG020 NR 29/10/2026 2.90 0.9664 1.5787 5.12
ARG030 NR 27/10/2027 2.20 0.9209 1.8554 5.47
Arvida Group ARV010 NR 22/02/2028 2.87 0.9052 2.7295 6.37
ASB Bank ABB090 AA- 04/05/2026 1.65 0.9812 0.1980 3.71
ABB110 AA- 16/11/2026 5.93 1.0504 0.3158 3.86
ABB100 AA- 21/06/2027 5.52 1.0417 0.4735 4.06
Auckland International Airport AIA240 A- 17/11/2026 3.29 0.9978 0.4156 3.96
AIA260 A- 17/11/2028 5.29 1.0465 0.6434 4.35
AIA270 A- 02/11/2029 6.22 1.0894 0.7401 4.54
AIA280 A- 15/11/2030 5.45 1.0570 0.7139 4.61
Bank of New Zealand BNZ150 AA- 08/06/2026 1.88 0.9808 0.2222 3.74
BNZ160 AA- 07/06/2027 4.99 1.0314 0.4365 4.02
BNZ170 AA- 25/05/2028 5.54 1.0520 0.5966 4.26
BNZ180 AA- 01/09/2028 5.87 1.0481 0.6623 4.35
BNZ190 AA- 19/11/2029 4.89 1.0302 0.6755 4.48
Channel Infrastructure CHI020 NR 20/05/2027 5.80 1.0184 1.3705 4.95
CHI030 NR 14/11/2029 6.75 1.0632 1.4668 5.27
Chorus CNU030 BBB 02/12/2027 1.98 0.9390 0.6875 4.31
CNU020 BBB 06/12/2028 6.38 1.0781 0.8187 4.53
CNU040 BBB 02/12/2030 2.51 0.8786 1.0297 4.93
Christchurch International Airport CHC020 A- 19/05/2028 5.18 1.0399 0.6381 4.30
CHC030 A- 15/04/2031 5.44 1.0579 0.7752 4.71
Contact Energy CEN070 BBB 11/04/2028 5.82 1.0516 0.6375 4.29
CEN080 BBB 06/04/2029 5.62 1.0515 0.7077 4.45
Fonterra Co-operative Group FCG050 A- 14/11/2025 4.15 1.0138   3.82
FCG060 A- 08/11/2029 4.60 1.0162 0.7385 4.54
Genesis Energy GNE060 BBB+ 14/03/2028 4.17 1.0139 0.6943 4.34
GMT Bond Issuer GMB060 BBB+ 14/04/2027 4.74 1.0170 1.1784 4.75
Investore Property IPL030 NR 25/02/2027 4.00 0.9762 1.6889 5.25
IPL020 NR 31/08/2027 2.40 0.9284 1.8479 5.45
Kiwi Property Group KPG040 BBB+ 12/11/2025 4.06 1.0080   4.56
KPG050 BBB+ 19/07/2028 2.85 0.9321 1.4631 5.14
KPG060 BBB+ 27/09/2029 6.24 1.0635 1.5100 5.30
KPG070 BBB+ 19/06/2030 5.35 1.0119 1.4407 5.30
Kiwibank KI1027 A1 19/10/2027 5.74 1.0575 0.6072 4.22
KI1028 A1 19/10/2028 6.25 1.0838 0.7005 4.40
KI1229 A1 11/12/2029 4.75 1.0098 0.9295 4.74
Manawa Energy MNW180 NR 29/07/2026 3.35 0.9909 0.6439 4.17
MNW190 NR 08/09/2027 5.36 1.0303 0.9662 4.57
MNW170 NR 22/02/2029 6.56 1.0612 1.1395 4.87
Mercury NZ MCY040 BBB+ 29/09/2026 2.16 0.9815 0.4037 3.94
MCY030 BBB+ 14/09/2027 1.56 0.9438 0.5948 4.20
MCY060 BBB+ 19/06/2028 5.64 1.0487 0.7105 4.38
Meridian Energy MEL050 BBB+ 27/06/2025 4.21 1.0074   3.99
MEL060 BBB+ 20/09/2028 5.91 1.0738 0.7376 4.43
MEL070 BBB+ 21/03/2030 5.40 1.0567 0.8128 4.65
Metlifecare MET010 NR 30/09/2026 3.00 0.9624 2.2335 5.77
Napier Port Holdings NPH010 NR 23/03/2028 5.52 1.0265 1.2721 4.92
Oceania Healthcare OCA010 NR 19/10/2027 2.30 0.8939 3.1872 6.80
OCA020 NR 13/09/2028 3.30 0.9151 2.4993 6.19
Precinct Properties NZ PCT030 NR 28/05/2027 2.85 0.9592 1.5287 5.11
PCT040 NR 09/05/2028 5.25 1.0127 1.6806 5.34
Property for Industry PFI020 NR 01/10/2025 4.25 1.0046   4.52
Ryman Healthcare RYM010 NR 18/12/2026 2.55 0.9538 1.9705 5.52
SKYCITY Entertainment Group SKC050 BBB- 21/05/2027 3.02 0.9422 2.2203 5.80
Southland Building Society SBS010 BBB+ 18/03/2027 4.32 1.0037 0.9743 4.54
SBS020 BBB+ 07/03/2029 6.14 1.0592 1.1459 4.88
SBS030 BBB+ 10/04/2030 4.98 1.0008 1.2579 5.10
Spark Finance SPF570 A- 07/09/2026 3.94 1.0112 0.2273 3.76
SPF590 A- 18/09/2029 5.21 1.0388 0.7125 4.50
SPF600 A- 18/09/2031 5.45 1.0481 0.7925 4.77
Summerset Group SUM020 NR 24/09/2025 4.20 1.0056   4.47
SUM030 NR 21/09/2027 2.30 0.9404 1.3433 4.95
SUM040 NR 09/03/2029 6.59 1.0611 1.5553 5.29
SUM050 NR 08/03/2030 6.43 1.0634 1.4661 5.30
Transpower NZ TRP050 AA 06/03/2025 3.82 1.0179   3.96
TRP070 AA 04/09/2025 1.74 0.9890   3.78
TRP080 AA 08/04/2026 1.52 0.9820 0.1923 3.70
TRP090 AA 08/09/2026 2.05 0.9848 0.1871 3.72
TRP100 AA 16/09/2027 4.63 1.0375 0.3144 3.92
TP0328 AA 15/03/2028 5.89 1.0800 0.3541 4.00
Vector VCT090 BBB+ 27/05/2025 3.45 1.0067   4.11
VCT100 BBB+ 26/11/2027 3.69 0.9923 0.7188 4.34
Wellington International Airport WIA050 BBB 16/06/2025 5.00 1.0116   4.28
WIA070 NR 14/08/2026 2.50 0.9756 0.7412 4.27
WIA090 BBB 24/08/2028 5.78 1.0352 0.9943 4.68
WIA100 BBB 04/09/2030 6.02 1.0522 1.0217 4.90
Westpac New Zealand WP0226 AA- 24/02/2026 1.44 0.9776 0.2293 3.73
WP0227 AA- 16/02/2027 3.70 0.9945 0.4707 4.03
WP0929 AA- 24/09/2029 4.34 1.0057 0.8508 4.64

 

Corporate Callable Bonds
Issuer Code Rating Maturity Coupon Price Spread swap Yield value
ANZ Bank New Zealand ANB170 A 17/09/2026 3.00 0.9770 1.3856 4.92
Heartland Bank HBL1T2 BB+ 28/04/2028 7.51 1.0330 2.8833 6.54
Kiwibank KWB010 Baa2 11/12/2025 2.36 0.9829   5.20
KWB1T2 Baa2 12/05/2028 6.40 1.0421 1.3798 5.04
Southland Building Society SBS1T2 BB+ 22/08/2029 7.62 1.0608 2.2899 6.07
Westpac New Zealand WNZ1T2 A 16/09/2027 6.19 1.0377 1.5044 5.11
WNZ2T2 A 14/02/2029 6.73 1.0556 1.4915 5.22

 

Capital Notes / Bonds
Issuer Code Rating Maturity Coupon Price Spread swap Yield value
Fletcher Building Industries FBI190 NR 15/03/2025 3.90 1.0145   9.00
FBI200 NR 15/03/2026 2.80 0.9556 5.0462 8.55
FBI210 NR 15/03/2027 4.75 0.9606 4.4350 8.00
FBI220 NR 15/03/2028 6.50 1.0020 3.8541 7.50
FBI230 NR 15/03/2029 6.89 1.0285 3.2137 6.95
Infratil IFT250 NR 15/06/2025 6.15 1.0141   5.45
IFT300 NR 15/03/2026 3.35 0.9833 2.1262 5.63
IFT280 NR 15/12/2026 3.35 0.9668 2.1310 5.68
IFT310 NR 15/12/2027 3.60 0.9492 2.2247 5.85
IFT330 NR 31/07/2029 6.90 1.0472 2.0259 5.80
IFT270 NR 15/12/2028 6.78 1.0534 1.8865 5.60
IFT360 NR 13/12/2030 6.00 1.0120 2.0970 6.00
IFT340 NR 15/03/2031 7.08 1.0656 2.1237 6.05
IFT350 NR 17/12/2031 7.06 1.0780 1.8978 5.90

 

Corporate Bonds - Fixed rate reset
Issuer Code Rating Maturity Coupon Price Spread swap Yield value
Wellington International Airport WIA060 NR 01/04/2025 4.00 1.0226   -2.50
WIA080 NR 24/09/2026 3.32 0.9904 1.3545 4.89

 

Capital Notes / Bonds - Fixed rate reset
Issuer Code Rating Maturity Coupon Price Spread swap Yield value
Infratil IFT320 NR 15/06/2026 5.93 1.0133 2.2611 5.78

 

How to buy gold and silver

The process for buying precious metals involves four steps. You will first need to verbally agree (fix) a price. Usually you are negotiating a NZ dollar price for a specified volume of metal (eg: 1 oz) for a specified product (24ct coin). (Alternatively, you can negotiate a US dollar price.) Expect shipping costs to be extras. You then need to formally confirm your agreement, usually on a formal contract form. This step needs to be done promptly after your negotiation. Once confirmed in writing, you will need to make payment and this will almost always be required the same day as the written confirmation. Your order is then shipped to the address you specify. Note there are no refunds, returns or exchanges permitted. To sell, a similar process is undertaken.