In New Zealand, Westpac added a further NZ$225 million to the July 2014, government guaranteed, line that it had opened only the week before. The increase takes outstandings to NZ$575 million with pricing to swap unchanged.In the US s144A market, Westpac Securities NZ Ltd., raised US$1.0 billion for five years, under a New Zealand Government guarantee. The bonds were priced at 116.8 bps over US Treasuries to yield 3.498 per cent per annum.The New Zealand Debt Management Office saw solid investor demand for the four tranches of government bonds it offered last week. Offering NZ$400 million of bonds in total, bids totalled NZ$1.322 billion - an average oversubscription rate of 3.3 times. NZDMO sold NZ$200 million of April 2013 bonds, NZ$100 million of April 2015 bonds, NZ$50 million of December 2017 bonds and NZ$50 million of May 2021 bonds at weighted average yields of 4.80 per cent, 5.31 per cent, 5.79 per cent and 6.25 per cent, respectively.