NZDMO to debut new 2023 in NZ$100 million tender
The New Zealand Debt Management Office (NZDMO) (AAA/Aaa/AAA)confirmed the initial volume of the new June 2023 benchmark government bond it will introduce via tender on June 10, with NZ$100 million (US$82.3 million) of the new bond to be placed. The new line, the introduction of which comes on the back of what the agency calls strong recent demand for longer-dated New Zealand government securities, will extend the issuer's benchmark curve by two years.
ANZ National readying covered bonds at home and abroad
The second covered bond from a New Zealand bank has been announced, with ANZ National Bank (ANZ National) (Aa3/AA-) launching its inaugural issue in the format. The deal will be issued as part of ANZ National's €5 billion (US$7.3 billion) covered bond programme. Moody's Investors Service and Fitch Ratings have assigned the forthcoming issue preliminary long-term triple-A ratings.Full details on BNZ's A$700 million Kangaroo covered bond debut [UPDATED]
On June 8 Bank of New Zealand (BNZ) (AA/Aa2) issued its inaugural Kangaroo covered bond issue via the London branch of its subsidiary BNZ International Funding. The fixed rate, five-year transaction reached a final volume of A$700 million (US$746.9 million) in what is also the first deal in Australia from BNZ in any format.Citi buyback leaves more fixed rate outstanding than FRNs [UPDATED]
Citigroup (Citi) (A/A3/A+) has completed its buyback of both the fixed and floating rate note (FRN) tranches of its government-guaranteed August 2012 maturity. It bought back A$262.4 million (US$277.4 million) of the A$450 million fixed rate piece at a price of 100.582 per cent plus 1.584 accrued, and A$798.7 million of the A$800 million FRN at a price of 100.535 per cent plus 0.491 accrued.