Electricity distribution · VCT070 · as at 2 Sept 2026
Vector Senior Bond, 2030
Auckland's monopoly electricity distribution network, funding grid upgrades and battery storage.
Indicative yield to maturity
6.09%
Coupon at issue
6.25%
Interest paid
Semi-annually
- Issuer
- Vector
- NZX code
- VCT070
- Sector
- Electricity distribution
- Maturity
- October 2030
- Ranking
- Senior unsecured
- Currency
- NZD
- Typical minimum parcel
- $5,000
- Green / sustainable
- No
All figures are indicative only and stated in New Zealand dollars as at 2 Sept 2026. The coupon is fixed at issue; the yield to maturity depends on the market price you pay and moves daily. Confirm every figure in the issuer's own offer and terms documents before investing.
About this bond
Vector owns the electricity and gas distribution networks that serve Auckland. Like Chorus, its core business is a regulated natural monopoly, which underpins the credit.
Vector's capital programme is heavy — network resilience, undergrounding, and grid-scale batteries — so it is a regular issuer in the retail bond market.
The 2030 line pays semi-annual interest and trades on the NZX Debt Market through a sharebroker in parcels from $5,000.
Buying and selling before maturity
Vector Senior Bond, 2030 is bought and sold through a New Zealand sharebroker rather than direct from the issuer. You pay the prevailing market price plus brokerage, which is why the yield to maturity above differs from the 6.25% coupon.
Held to October 2030, you receive the scheduled interest and face value at maturity, assuming the issuer meets its obligations. Sold earlier, you receive whatever the market pays that day — higher if interest rates have fallen, lower if they have risen. Listed does not guarantee liquid, so the prudent assumption is that you hold to maturity.
This bond ranks as senior unsecured. Ranking determines where you stand relative to other creditors if the issuer runs into trouble, and it matters more than the headline rate.
Indicative yield to maturity · VCT070
6.09%
Indicative only and subject to market pricing and availability. Ask for the current offer documents and we'll include the free NZ Bond Buyer's Guide.
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Ask for the current terms on VCT070
6.09%
Indicative yield to maturity on Vector Senior Bond, 2030. The coupon set at issue is 6.25%. Yields move with market pricing and are not guaranteed.
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All figures are indicative, in New Zealand dollars, as at 2 Sept 2026. Yield to maturity moves with the market price you pay and will differ from the coupon. Confirm current terms in the issuer's offer documents before investing.
Not sure how the quoted yield translates into dollars in your account? Bond yields explained walks through coupon, running yield and yield to maturity with worked numbers.