Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Strong demand for inflation linked bonds in 1st sale of 2013

Strong demand for NZ inflation indexed bonds in first sale of 2013

Feb. 8 (BusinessDesk) – Investors offered to buy more than six times the amount of inflation-indexed bonds on offer in the New Zealand Debt Management Office’s first sale of the securities this year.

The government sold $200 million of the September 2025 bonds, which are adjusted for movements in the consumer price index, at a weighted average yield of 1.5014 percent. It received 64 bids totalling $1.3 billion, a coverage ratio of 6.51 times.

The resumption of sales of so-called linkers was announced last year with an initial sale of $2.5 billion of the debt in October via a syndicate of ANZ New Zealand, Deutsche Bank and UBS, with HSBC and the Royal Bank of Scotland as co-managers. That sale garnered $4 billion of bids.

The DMO plans to sell as much of $6 billion of the debt and inflation index bonds are expected to reach 10 percent to 20 percent of total government bonds outstanding.

Inflation-indexed bonds were originally introduced in 1996, with the sale of Feb. 15, 2016, bonds. The DMO suspended issues of that issue in 1999.

(BusinessDesk)

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

OceanaGold: Man Killed In Waihi Mine Accident

A 29-year-old man had died following a work place accident at OceanaGold mine, Waihi last night. The man was killed after the front end loader he was in rolled down a slope. The accident happened at approximately 6.30pm on Thursday night. More>>

ALSO:

Constructing Consent: Annual Housing Consents Highest In Over A Decade

More than 29,000 new homes gained building consent in the year to June 2016, up 16 percent from the previous June year, Statistics New Zealand said today. More>>

ALSO:

War Against Weevil For Future Peas: “No Peas, No Weevil” Ban Now In Place In Wairarapa

The Ministry for Primary Industries (MPI) has today placed a ban on growing peas within a specified area and placed controls on moving pea material (seed and untreated pea straw) within, in and out of this area for the next 2 years. More>>

ALSO:

Wood Producers: Crisis In New Zealand Log Supply

New Zealand wood processing leaders held a hui with senior government officials and political leaders in Whangarei yesterday to assess the acute log supply shortage to local mills in Northland. More>>

Consents And Taxes: Trustpower 'Very Disappointed' With Judgement

Trustpower is "very disappointed" with a Supreme Court ruling dismissing its bid to claim tax deductions on $17.7 million of project costs in a case closely watched by large-scale infrastructure developers. More>>

ALSO:

Fruitful Endeavours: Kiwifruit Exports Reach Record Levels

In June 2016, kiwifruit exports rose $105 million (47 percent) from June 2015 to reach $331 million, Statistics New Zealand said today. Overall, goods exports rose $109 million (2.6 percent) in June 2016 (to $4.3 billion). More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news