Kiwi Bond Interest Rates

13 September 2002

MEDIA STATEMENT
Immediate Release

Philip Combes
Treasurer, NZDMO

Kiwi Bond Interest Rates

The New Zealand Debt Management Office announced today that the six-month Kiwi Bond interest rate is to be reduced by 0.25%, effective from 13 September 2002. The interest rates on other Kiwi Bond maturities remain unchanged.

Kiwi Bond interest rates are set periodically from the moving averages of domestic wholesale rates. This change has been made in response to recent changes in wholesale market interest rates.

The new rates are as follows:

For subscriptions of $5,000 - $250,000

Maturity Rate

6 months 5.25 percent per annum
1 year 5.25 percent per annum
2 years 5.25 percent per annum
4 years 5.75 percent per annum

For subscriptions of $1,000 - $4,900

Maturity Rate

6 months 4.75 percent per annum
1 year 4.75 percent per annum
2 years 4.75 percent per annum
4 years 5.25 percent per annum

ENDS

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