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.