Monday, the New Zealand Debt Management Office said it has already completed NZ$ 4.1 billion of the NZ$ 4.5 billion debt programme announced in December.

To allow for continued regular issuance of around NZ$150 million per week for the remainder of the fiscal year, the 2008/09 domestic bond programme has been increased by NZ$1 billion to a maximum of NZ$5.5 billion.

The NZDMO will also introduce a new government bond with a maturity of May 15, 2021. The coupon rate on the bond will be announced with the tender composition on May 6, 2009.

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