The New Zealand Debt Management Office (NZDMO) cites market preference for immediate liquidity in a new benchmark line as the driver of its decision to use syndication for the listing of a new nominal benchmark line for the first time. The NZDMO placed NZ$2 billion (US$1.7 billion) in its new 2020 bond on April 10, and says it will consider further issuance of this type in future.
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