NZDX Debt Raising Reaches Record Highs In 2006

New Zealand Exchange Limited (NZX) announced today the listing of two new issues of debt for TCNZ Finance Limited (TeleBonds) bringing the amount raised on the NZDX this year to $816 million – 9% more than what was raised on the NZDX for the whole of the second half of 2005.

The TeleBonds offer a long term investment opportunity at internationally competitive prices. The two issues have an aggregate amount of $400 million and are the fourth and fifth debt securities issued on the NZDX since the start of the year.

The new debt listings further support encouraging trading figures for the NZDX in 2006. In January and February, the total number of trades for the NZDX market increased by 13% compared to the same period last year. This sound performance is reflects the high quality issues and a wider range of debt products, according to NZX Markets Developments Manager, Geoff Brown.

“New Zealanders are hungry for a choice of high quality investments. Both the TeleBonds and the ANZ National Bank debt issues, listed last month, are rated securities and their addition to the market will provide investors with a wider range of products which is beneficial to the New Zealand markets overall,” said Geoff Brown.

The NZDX is an additional way to raise capital for companies looking to accumulate additional money to fund growth, expansion or new ventures.

The TeleBonds securities were quoted on the NZDX Market under the security codes TCN480 and TCN490 from 10am today. For more information please see the attached Quotation Notice.