5 May 2009

Domestic bond target raised by Govt agency

7:04 am on 5 May 2009

The New Zealand Debt Management Office has raised the amount of money it plans to raise through domestic bonds by $1 billion and has introduced a tender for longer-term bonds.

The agency, which is in charge of issuing Government bonds, has already raised $4.1 billion of the $4.5 billion that it announced it was seeking in December.

To allow for regular issuance of around $150 million per week for the rest of the fiscal year, it says it's now extended its maximum to $5.5 billion.

The agency has also introduced a new Government bond with a maturity of May 2021.