NEW ZEALAND GOVERNMENT TREASURY BILLS
THE SOVEREIGN IN RIGHT OF NEW ZEALAND
debtmanagement.treasury.govt.nz
There are some aspects of this fund which may require extra consideration before deciding to invest.
Schedule 1 exemption
This investment offer has a Schedule 1 exemption, which means there is not as much required to be disclosed about it as others. There will be fewer documents to see. Here's more about Schedule 1.
Exclusion for debt securities issued by the Crown (clause 22(1)(a) of Schedule 1 of the FMCA)
Issuer's description of this product:
The Bills are fixed-term debt securities issued by the New Zealand Government
Minimum investment
$1,000,000
This is the minimum amount you would need to put into this in order to invest.
Closing date
Ongoing
This offer does not have a closing date and is a continuous issue. It's likely you'll be able to invest for the foreseeable future.
Maturity
Non-fixed
This investment does not have a fixed date of maturity, which can mean flexible or multiple terms are available.
Rate
Non-fixed
This investment offer does not have a single set rate. This may mean that the rate is variable or that there are multiple rates available.
The details
Key facts
Provider website
Issuer's industry
Other
Credit ratings
Credit ratings can help you understand whether your investment in bonds will pay or if you'll get your money back. They indicate the long-term ability of the issuer to repay its debts. See also the Reserve Bank's primer on credit ratings and a map of the three scales used by the rating agencies.
Investment credit rating
Not providedIssuer credit rating
A-1+
(Standard & Poor's)
This is the credit rating for the organisation issuing the bond or debt security.
Maturity
Non-fixed
Maturity conditions description
The Bills will be available in a range of different maturities, although the Bills will usually have a term of approximately three months, six months, or one year.
Rate
Non-fixed
Rate calculation description
No interest is payable on the Bills. The Bills may be issued at a discount to their Principal amount, but may also be issued ‘at par’ or at a premium, depending on the prevailing market interest rates. The level of the discount (if any) determines the initial rate of return on the Bills.
Key documents
These are the most important documents that a provider is required to file about this investment.
Product disclosure statement
Before you invest in a product like a fund, you are given a PDS which has essential details about it and the company providing it. Here's more on how to read a PDS.
nz govt treasury bills product disclosure statement 5 nov 25.pdf
How this investment works, including about the provider, risks, costs and potential returns
PDF, 344.44 KB
Additional disclosure documents
These are more documents from the provider that can contain interesting information.
nz govt treasury bills information memorandum 5 nov 24.pdf
Information Memorandum - NZ Govt Treasury Bills
PDF, 324.20 KB
Information Memorandum NZ Govt T Bills (5 Nov 2025).pdf
Information Memorandum - NZ Govt Treasury Bills
PDF, 257.43 KB
Information Memorandum New Zealand Government Treasury Bills.pdf
Information Memorandum
PDF, 360.45 KB
Information Memorandum New Zealand Government Treasury Bills (19 October 2022).pdf
Information Memorandum - New Zealand Government Treasury Bills
PDF, 253.89 KB
Noticeof Availabilityoffinancialstatements.pdf
Notice of Availability of financial statements
PDF, 222.81 KB
Additional details
Issuer details
Name
THE SOVEREIGN IN RIGHT OF NEW ZEALAND
Industry
Other
Website
Credit rating
A-1+ (Standard & Poor's) on 04 May 2020
Offer details
Date registered
11 November 2016
Date opened
18 November 2016
Closing date
None
Offer credit rating
N/A
Continuous issue
Yes
Further payments may be required
No
Restrictions on transfer
No
Restrictions on acquisition
No
Convertible product
No
Intending to list
No
Schedule 1 exemption
Yes
FMA exemption
No
Reference numbers
Offer
OFR10989: NEW ZEALAND GOVERNMENT TREASURY BILLS