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Council bond buyback creates conundrum for investors

Auckland Council has invited tenders to advise on potential buyback of bonds maturing in 2050.

Auckland Council issued $500m of 30-year bonds in 2020 at 2.95%.

Tim Hunter Fri, 01 Dec 2023

Auckland Council may struggle to get investors to sell $500 million of 30-year bonds it wants to buy back at a huge discount, says a bond fund manager.

The bonds issued in 2020 for maturity in 2050 are currently trading at $57.88 per $100 of face value, prompting the council to seek tenders from

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Council bond buyback creates conundrum for investors
Investment,
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