Retail bonds
Introduction
Auckland Council has five issues of fixed-rate retail bonds listed on the NZX Limited Debt Market (NZDX).
|
Amount |
$27.815 million |
$150 million |
$350 million |
$95.792 million |
$350 million |
|
Coupon interest rate |
6.15% |
6.42% |
6.28% |
6.90% |
6.52% |
|
Maturity date |
15 September 2013 |
24 March 2014 |
24 March 2015 |
15 September 2015 |
29 September 2017 |
|
NZDX ticker |
AKC030 |
AKC010 |
AKC020 |
AKC040 |
AKC050 |
These bonds were originally issued to the public by either Auckland City Council or Manukau City Council and are debt securities that pay a fixed rate of interest (coupon) and mature at a fixed time in the future (maturity date). This page provides current and potential investors with information about the bonds and links to key financial information and reports.
The NZDX is New Zealand's market for buying and selling debt securities, offering a range of fixed income securities including government, local authority and corporate bonds. Find out more about the NZDX.
Auckland Council took over all the obligations relating to the bonds on 1 November 2010. The Debenture Trust Deed between Auckland Council and Trustees Executors Limited as Trustee (refer sidebar) secures the bonds by a charge over all of Auckland Council's rates and rates revenue. The charge over the rates and rates revenue is a first ranking security.
Your bonds
How to buy or sell retail bonds
Auckland Council Treasury recommends you talk to an authorised financial adviser with any questions you have about whether you should buy, sell or continue to hold retail bonds.
Current trading price of Auckland Council bonds
See the NZX website for the current trading price and market announcements.
Interest payment dates
Interest on the bonds is payable twice annually in arrears, in two equal instalments, in March and September each year up to and including the maturity date. Refer to the above links to find out the next interest payment date for each of the bonds.
Changed your address or bank account?
If you are a current bond holder and have recently changed your address or bank account, visit the Computershare website to update the registry.
Complaints
Any complaints about Auckland Council's retail bonds can be made using our standard complaints process.
Auckland Council is a member of the Financial Disputes Resolution Scheme (FDR Scheme). The FDR Scheme is operated by Dispute Resolutions Services Limited (DRSL). If you cannot agree with Auckland Council on how to resolve your issue, you can refer the matter to DRSL by directing it to:
DRSL
Level 9
109 Featherston Street
Wellington 6011
Attention: Manager, FDR
Telephone: 0508 337 337
Facsimilie: 04 918 4901