INDEPENDENT NEWS

Kiwi Bond Interest Rates

Published: Fri 13 Sep 2002 12:13 AM
13 September 2002
MEDIA STATEMENT
Immediate Release
Philip Combes
Treasurer, NZDMO
Kiwi Bond Interest Rates
The New Zealand Debt Management Office announced today that the six-month Kiwi Bond interest rate is to be reduced by 0.25%, effective from 13 September 2002. The interest rates on other Kiwi Bond maturities remain unchanged.
Kiwi Bond interest rates are set periodically from the moving averages of domestic wholesale rates. This change has been made in response to recent changes in wholesale market interest rates.
The new rates are as follows:
For subscriptions of $5,000 - $250,000
Maturity Rate
6 months 5.25 percent per annum
1 year 5.25 percent per annum
2 years 5.25 percent per annum
4 years 5.75 percent per annum
For subscriptions of $1,000 - $4,900
Maturity Rate
6 months 4.75 percent per annum
1 year 4.75 percent per annum
2 years 4.75 percent per annum
4 years 5.25 percent per annum
ENDS

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