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Daily fixed income news and prices Thursday, September 22, 2016

The Bonds Newsletter

News and analysis
as at June 21, 2025, 11:25 pm

NZ Government Stock
Maturity Yield to
Maturity		 Indicative Price $ Swap
Spread
15 Apr 20254.111.00
15 May 20263.740.960.07
15 Apr 20273.731.030.16
15 May 20283.800.890.22
20 Apr 20293.910.970.29
15 May 20304.041.030.34
15 May 20314.190.850.42
15 May 20324.310.860.46

Swap rates
Maturity Quarterly Rate
3 mth bills4.26
1 year3.72
2 year3.57
3 year3.54
4 year3.58
5 year3.65
7 year3.81
10 year4.87

Fixed bond rate issues
Issuer Maturity
Date		 Yield to
Maturity		 Indicative Price $ Swap
Spread		 Coupon Credit Rating Amt $m
NZ Government15 Apr 20254.111.002.75AA+1700.0
NZ Local Govt Funding Agency15 Apr 20254.281.002.75AA+2819.0
Wellington International Airport16 Jun 20254.601.005.00BBB+70.0
Meridian Energy27 Jun 20254.291.004.21BBB+200.0
Transpower04 Sep 20254.040.991.74AA-450.0
Kiwibank11 Dec 20255.430.972.36Baa3275.0
Westpac New Zealand24 Feb 20263.950.980.251.44AA-
24 Feb 20261.44AA-
Transpower08 Apr 20263.850.970.171.52AA150.0
NZ Local Govt Funding Agency15 Apr 20263.830.970.151.50AA+2255.0
ASB Bank04 May 20263.900.970.231.65AA-500.0
NZ Government15 May 20263.740.960.070.50AA+
Bank of New Zealand08 Jun 20263.920.970.261.88AA-550.0
Auckland Council 27 Jul 20263.901.000.263.34AA180.0
Spark Finance07 Sep 20263.811.000.193.94A-125.0
Transpower08 Sep 20263.830.980.212.05AA200.0
ANZ Bank17 Sep 20265.060.971.443.00A
Mercury NZ29 Sep 20264.070.970.462.16BBB+200.0
Christchurch City Holdings Limited05 Nov 20263.980.990.383.01AA-150.0
ASB Bank16 Nov 20263.971.040.385.93AA-650.0
Auckland International Airport17 Nov 20264.090.990.503.29A-150.0
Westpac New Zealand16 Feb 20274.061.010.483.70AA
Southland Building Society18 Mar 20274.571.000.994.32BBB+150.0
18 Mar 20274.781.051.176.14BBB+175.0
GMT Bond Issuer14 Apr 20274.801.011.234.74BBB+150.0
NZ Local Govt Funding Agency15 Apr 20273.941.020.374.50AA+2311.0
NZ Government15 Apr 20273.731.030.164.50AA+5700.0
Sky City Entertainment Group21 May 20275.870.942.303.02BBB-175.0
Bank of New Zealand07 Jun 20274.051.020.484.99AA-650.0
ASB Bank21 Jun 20274.061.030.495.52AA-
Mercury NZ13 Sep 20274.190.940.621.56BBB+200.0
Westpac New Zealand16 Sep 20275.021.031.456.19A-600.0
Transpower16 Sep 20273.901.030.334.63AA200.0
Kiwibank19 Oct 20274.211.050.655.74A1
Auckland Council 20 Oct 20274.060.960.502.41AA300.0
Vector26 Nov 20274.310.990.753.69BBB225.0
Chorus Limited01 Dec 20274.280.940.721.98BBB200.0
ANZ Bank16 Feb 20284.141.050.575.22AA-500.0
Genesis Energy14 Mar 20284.281.010.714.17BBB+125.0
Transpower15 Mar 20283.941.070.375.89AA-100.0
Christchurch City Holdings Limited06 Apr 20284.181.040.615.04AA150.0
Contact Energy 11 Apr 20284.241.060.675.82BBB250.0
Air New Zealand27 Apr 20284.811.071.246.61Baa2100.0
Auckland International Airport09 May 20284.201.050.625.67A-
Kiwibank12 May 20285.221.041.646.40Baa2200.0
NZ Local Govt Funding Agency15 May 20284.060.950.482.25AAA1613.0
NZ Government15 May 20283.800.890.220.25AA+
Christchurch International Airport19 May 20284.221.030.645.18BBB+100.0
Bank of New Zealand25 May 20284.211.050.635.54AA-600.0
IAG15 Jun 20285.32BBB400.0
Mercury NZ19 Jun 20284.301.040.725.64BBB+150.0
ANZ Bank18 Jul 20286.95BBB550.0
Kiwi Property Group 19 Jul 20285.090.941.512.85BBB+
Wellington International Airport24 Aug 20284.571.060.985.78BBB75.0
Bank of New Zealand01 Sep 20284.281.070.695.87AA-1000.0
Meridian Energy20 Sep 20284.341.070.755.91BBB+200.0
Auckland Council 27 Sep 20284.181.070.595.73AA300.0
Kiwibank19 Oct 20284.311.080.726.25A1
Auckland International Airport17 Nov 20284.261.040.665.29A-150.0
Westpac New Zealand14 Feb 20295.111.071.506.73A-600.0
Contact Energy 06 Apr 20294.341.060.725.62BBB300.0
NZ Government20 Apr 20293.910.970.293.00AA+2150.0
NZ Local Govt Funding Agency20 Apr 20294.220.900.601.50AA+1982.0
Bank of New Zealand14 Jun 20297.30BBB375.0
Spark Finance18 Sep 20294.371.040.725.21A-
Westpac New Zealand24 Sep 20294.511.000.864.34AA-
Kiwi Property Group 27 Sep 20295.221.061.576.24BBB+125.0
Auckland International Airport02 Nov 20294.421.090.766.22A-250.0
Fonterra Co-operative Group08 Nov 20294.461.010.804.60A-
Bank of New Zealand19 Nov 20294.521.020.864.89AA-
Kiwibank11 Dec 20294.75A1
Meridian Energy21 Mar 20304.561.050.875.40BBB+
Southland Building Society10 Apr 20305.021.011.334.98BBB+
NZ Government15 May 20304.041.030.344.50AA+
NZ Local Govt Funding Agency15 May 20304.421.010.724.50AA+1600.0
Kiwi Property Group 19 Jun 20305.35BBB+
Wellington International Airport04 Sep 20304.751.081.035.50BBB
Auckland International Airport15 Nov 20304.511.050.782.00A-
Chorus Limited01 Dec 20304.800.881.062.51BBB200.0
Christchurch International Airport15 Apr 20314.571.060.80A-315.0
NZ Government15 May 20314.190.850.421.50AA+2000.0
NZ Local Govt Funding Agency15 May 20314.570.870.802.25AAA1305.0
Spark Finance18 Sep 20314.631.050.835.45A-
NZ Local Govt Funding Agency14 May 20324.700.990.852.00AAA
NZ Government15 May 20324.310.860.462.00AAA2000.0
NZ Local Govt Funding Agency14 Apr 20334.790.920.883.50AA+1575.0
15 May 20354.950.850.933.00AAA550.0
14 Apr 20375.110.721.002.00AA+920.0
Issuer Maturity
Date		 Yield to
Maturity		 Indicative Price $ Swap
Spread		 Coupon Credit Rating Amt $m
Mercury NZ11 Jul 20243.60BB+300.0
Kiwibank02 Nov 20264.93Ba1250.0
Contact Energy 19 Nov 20264.33BB+225.0
Mercury NZ13 May 20275.73BB+250.0
Genesis Energy08 Jun 20275.70BB+225.0
09 Jun 20275.66BB+285.0
Vector15 Jun 20276.23BB+307.2
Heartland Bank Limited28 Apr 20286.381.052.817.51BB+100.0
Genesis Energy10 Jul 20286.50BB+240.0
Southland Building Society22 Aug 20296.121.072.477.62BB+
Issuer Maturity
Date		 Yield to
Maturity		 Indicative Price $ Swap
Spread		 Coupon Credit Rating Amt $m
Works Finance (NZ)15 Jun 20249.81200.0
ICBC27 Jun 20242.61
Vector27 May 20254.411.003.45250.0
Infratil15 Jun 20255.901.006.1543.4
Auckland Council 10 Jul 20254.161.002.01150.0
Summerset Group Holdings Limited24 Sep 20254.900.994.20125.0
Property for Industry01 Oct 20254.791.014.25100.0
Kiwi Property Group 12 Nov 20254.841.004.06100.0
Fonterra Co-operative Group14 Nov 20254.081.014.15100.0
Quayside Holdings12 Mar 20266.64200.0
Infratil14 Mar 20266.100.972.413.35120.3
Fletcher Building Industries15 Mar 20269.000.945.312.80100.0
Argosy Property Limited27 Mar 20265.060.991.374.00100.0
Infratil15 Jun 20266.191.002.535.93115.9
Manawa Energy29 Jul 20264.310.990.673.35125.0
TrustPower 29 Jul 20263.35
Wellington International Airport13 Aug 20264.390.980.762.50100.0
24 Sep 20264.820.981.203.32125.0
Metlifecare30 Sep 20265.950.962.343.00100.0
Argosy Property Limited29 Oct 20265.210.961.612.90100.0
Infratil14 Dec 20265.850.952.273.35156.3
Ryman Healthcare17 Dec 20265.530.941.952.55150.0
Investore Property25 Feb 20275.290.981.714.00125.0
Fletcher Building Industries15 Mar 20278.000.954.424.75
Channel Infrastructure20 May 20274.971.021.405.80
Precinct Properties New Zealand Ltd28 Jun 20275.210.951.642.85150.0
Investore Property30 Aug 20275.470.931.902.40125.0
Manawa Energy08 Sep 20274.511.020.945.36150.0
Summerset Group Holdings Limited20 Sep 20274.910.931.352.30150.0
Oceania Healthcare18 Oct 20276.640.893.082.30125.0
Argosy Property Limited27 Oct 20275.470.921.912.20125.0
Infratil15 Dec 20276.000.942.443.60102.4
Arvida Group22 Feb 20286.320.902.752.87125.0
Fletcher Building Industries15 Mar 20287.400.993.836.50100.0
Napier Port Holdings23 Mar 20284.801.021.235.52100.0
Precinct Properties New Zealand Ltd09 May 20285.291.001.715.25175.0
NZX Limited20 Jun 20286.8040.0
Oceania Healthcare13 Sep 20286.850.893.263.30100.0
Manawa Energy22 Feb 20294.471.080.956.56
Summerset Group Holdings Limited09 Mar 20295.221.051.606.50175.0
Fletcher Building Industries15 Mar 20297.501.003.886.89
Infratil31 Jul 20295.901.052.266.90150.0
Channel Infrastructure14 Nov 20295.061.081.406.75
Summerset Group Holdings Limited08 Mar 20305.391.051.706.43
Wellington International Airport01 Apr 20302.961.014.00100.0
Property for Industry13 Sep 20305.43
Infratil13 Dec 20306.00
15 Mar 20316.121.052.367.08127.2
17 Dec 20316.101.062.287.06
NZX Limited20 Jun 20335.4040.0

The data shown in the fixed interest tables are collated from various sources and are indicative only. For details on how to read the data please click here

For investors wishing to know more about how to purchase fixed interest investors please click here or alternatively contact your financial adviser or sharebroker.

We strongly recommend all first time buyers of fixed interest securities work with an Authorised Financial Adviser (AFA).