Bonds
Latest bond tender of NZ$200 mln 2027's received bids for NZ$458mln; coverage ratio improves; weighted average yield stagnant despite recent rise in bond and swap yields
17th Dec 15, 2:30pm
by
The New Zealand Debt Management Office has announced the results of NZ Govt Bond tender number 560 held on December 17, 2015.
Tender Date: Thursday, December 17, 2015
Bids close: 2.00pm
Results: From 2.05pm
Settlement Date: Tuesday, December 22, 2015
| Dec 17 - #560 | Nov 19 - #557 | Sept 11 - #551 | Aug 13 - #548 | Jul 9 - #545 | Jun 12 - #544 | |
| Series Offered | 4.50% 15 Apr 2027 | 4.50% 15 Apr 2027 | 4.50% 15 Apr 2027 | 4.50% 15 Apr 2027 | 4.50% 15 Apr 2027 | 4.50% 15 Apr 2027 |
| Total Amount Offered ($million) | 200 | 200 | 200 | 200 | 200 | 300 |
| Total Amount Allocated ($million) | 200 | 200 | 200 | 200 | 200 | 300 |
| Total Number of Bids Received | 61 | 41 | 47 | 34 | 49 | 136 |
| Total Amount of Bids Received ($million) | 458 | 361 | 437 | 365 | 677 | 1,123 |
| Total Number of Successful Bids | 28 | 24 | 24 | 8 | 2 | 32 |
| Highest Yield Accepted (%) | 3.640 | 3.640 | 3.290 | 3.290 | 3.385 | 3.890 |
| Lowest Yield Accepted (%) | 3.575 | 3.580 | 3.260 | 3.260 | 3.375 | 3.850 |
| Highest Yield Rejected (%) | 3.730 | 3.880 | 3.490 | 3.390 | 3.500 | 4.095 |
| Lowest Yield Rejected (%) | 3.640 | 3.640 | 3.290 | 3.290 | 3.395 | 3.890 |
| Weighted Average Accepted Yield (%) | 3.6178 | 3.6057 | 3.2799 | 3.2676 | 3.3800 | 3.8702 |
| Weighted Average Rejected Yield (%) | 3.6647 | 3.7056 | 3.3142 | 3.3205 | 3.4236 | 3.9384 |
| Amount Allotted at Highest Accepted Yield as Percentage of Amount Bid at that Yield* | 7.2 | 77.1 | 33.7 | 50 | 100 | 46.2 |
| Coverage ratio | 2.290 | 1.805 | 2.185 | 1.825 | 3.385 | 3.743 |
*Individual allotments may vary due to rounding.
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