Contact Energy issued NZ$100 million of seven-year bonds in its domestic market. The issue was priced at 230 basis points over swap to yield 7.855 per cent per annum. The issue includes a coupon step-up in the event that Contract Energy suffers a credit rating downgrade. The coupon will step up by 150 bps should Contact Energy's credit rating fall below 'BB+' or should the company become unrated. Contact Energy has only one other bond outstanding: a NZ$550 million issue maturing in May 2014.As expected, Kiwibank announced the indicative coupon on its Kiwi Income Securities and increased the issue size to NZ$150 million, last week. The coupon will be set at the greater of 8.13 per cent or 290 bps over the five-year swap rate on May 3. The offer opened on Thursday and closes on April 30.Finally, the New Zealand Debt Management Office announced on Friday that it will reintroduce a one-year Treasury bill to be offered to investors in today's tender. The reintroduction of the bill increases the range of funding options available to the NZDMO and gives investors an additional short-term government security.