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Latest bond tender of NZ$200 mln 2027's received bids for NZ$857 mln; massive interest in this maturity but tiny number of successful bids

Bonds
Latest bond tender of NZ$200 mln 2027's received bids for NZ$857 mln; massive interest in this maturity but tiny number of successful bids

The New Zealand Debt Management Office has announced the results of NZ Govt Bond tender number 540 held on April 16, 2015.

Tender Date: Thursday, April 16, 2015

Bids close: 2.00pm

Results: From 2.05pm

Settlement Date: Tuesday April 21, 2015

  Apr 9 - #540 Apr 9 - #539 Mar 13 - #537 Feb 15 - #535 Dec 14 - #531 Nov 14 - #531
Series Offered 4.50% 15 Apr 2027 4.50% 15 Apr 2027 4.50% 15 Apr 2027 4.50% 15 Apr 2027 4.50% 15 Apr 2027 4.50% 15 Apr 2027
Total Amount Offered ($million) 200 200 300 300 300 300
Total Amount Allocated ($million) 200 200 300 300 300 300
Total Number of Bids Received 101 78 69 54 77 96
Total Amount of Bids Received ($million) 857 487 631 638 1,293 771
Total Number of Successful Bids 8 24 50 13 26 44
Highest Yield Accepted (%) 3.340 3.370 3.500 3.420 3.950 4.270
Lowest Yield Accepted (%) 3.320 3.340 3.450 3.335 3.920 4.235
Highest Yield Rejected (%) 3.495 3.500 3.600 3.580 4.015 4.345
Lowest Yield Rejected (%) 3.340 3.370 3.500 3.420 3.950 4.270
Weighted Average Accepted Yield (%) 3.3364 3.3535 3.4790 3.3536 3.9363 4.2582
Weighted Average Rejected Yield (%) 3.3815 3.4109 3.5362 3.4457 3.9750 4.2975
Amount Allotted at Highest Accepted Yield as Percentage of Amount Bid at that Yield* 80.6 44.4 25.5 26.2 12.3 65.3
Coverage ratio 4.285 2.435 2.1033 2.127 4.310 2.57

*Individual allotments may vary due to rounding.

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1 Comments

FYI - NZDMO issued another $100m, off market, to the RBNZ.

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