New Zealand Debt Management (NZDM) printed its first syndicated transaction in 18 months on 18 September, establishing a new May 2031 line. The deal was well-received according to the issuer, with nearly half of the transaction allocated to offshore accounts despite feedback that the relative value of New Zealand government bonds to other sovereigns has declined.
Housing New Zealand (Housing NZ) tapped two of its existing lines on 11 September for an aggregate NZ$600 million (US$383 million). The transaction was the first under a rebranded framework which incorporates all the issuer’s outstanding lines as wellbeing bonds explicitly to signal alignment with the New Zealand government’s broader wellbeing objectives.
On 17 September, New Zealand Debt Management (NZDM) (AA+/Aaa/AA+) launched its new, NZ$1-2 billion (US$634.3-1,268.5 million) May 2031 syndicated transaction. The forthcoming deal has indicative price guidance of 13-17 basis points over the April 2029 New Zealand government bond and is being led by BNZ, Commonwealth Bank, UBS and Westpac Banking Corporation New Zealand Branch. Pricing is expected on the day after launch.