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Latest 2020 Government nominal tender #574; Investors can't get enough of the 2020 maturity; 5.5x coverage ratio; average weighted yield close to 2.09%

Bonds
Latest 2020 Government nominal tender #574; Investors can't get enough of the 2020 maturity; 5.5x coverage ratio; average weighted yield close to 2.09%

NZDMO has announced the results of Nominal Government Bond tender number 574 held on 16 June 2016.

Tender Date: Thu, 16 June 2016
Bids close: 2.00pm
Results: From 2.05pm
Settlement Date: Tue, 21 June  2016

Series Offered: 3.00% 15 Apr 2020 Today #574 19-May-16 #571 21-Apr-16 #568 17-Mar-16
#565
18-Feb-16
#562
26-Nov-15
#558
Total Amount Offered ($million) 150 150 150 100 100 200
Total Amount Allocated ($million) 150 150 150 100 100 200
Total Number of Bids Received 32 43 44 37 32 58
Total Amount of Bids Received ($million) 825 747 792 736 589 1,052
Total Number of Successful Bids 5 13 16 7 9 12
Highest Yield Accepted (%) 2.090 2.210 2.220 2.275 2.570 2.880
Lowest Yield Accepted (%) 2.080 2.190 2.185 2.255 2.550 2.855
Highest Yield Rejected (%) 2.150 2.285 2.315 2.400 2.650 3.000
Lowest Yield Rejected (%) 2.090 2.210 2.220 2.275 2.570 2.880
Weighted Average Accepted Yield (%) 2.0867 2.2018 2.2030 2.2642 2.5600 2.8721
Weighted Average Rejected Yield (%) 2.1109 2.2380 2.2498 2.3115 2.5861 2.9170
Amount Allotted at Highest Accepted Yield as Percentage of Amount Bid at that Yield* 85 41.7 4.1 33.3 3.1 66.7
Coverage Ratio 5.500 4.980 5.280 7.360 5.890 5.260

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