Dunedin City Treasury prints NZ$100 million dual-tranche deal

Monday, 11 November 2019

Issuer: Dunedin City Treasury
Issuer rating: AA by S&P
Issue rating: as issuer
Pricing date: 11 November 2019
Settlement date: 15 November 2019
Total volume: NZ$100 million (US$63.4 million)
Lead manager: ANZ

Three-year tranche
Volume: NZ$45 million
Total outstanding in the line: NZ$45 million
Maturity date: 15 November 2022
Coupon type: fixed
Coupon rate: 1.51%
Issue/re-offer price: par
Issue yield: 1.51%
Margin to swap: 42bp/mid

Seven-year tranche
Volume: NZ$55 million
Total outstanding in the line: NZ$55 million
Maturity date: 15 November 2026
Coupon type: fixed
Coupon rate: 2.09%
Issue/re-offer price: par
Issue yield: 2.09%
Margin to swap: 74bp/mid