Market movements around the New Zealand Debt Management Office (NZDMO)'s first 2015 benchmark buyback tender offer left the agency able to only make a small dent in the volume of what is its shortest-dated and largest outstanding bond maturity. Nonetheless, the NZDMO confirms that the result has no impact on its repurchase objective, which stretches to NZ$3 billion (NZ$2.5 billion) in total, or on its issuance projections.