Bonds
Tender 578 of NZ$150 mln 2033's received bids for NZ$348 mln; 40 bps drop on average yield and considerably better coverage ratio, but still below earlier auction levels
28th Jul 16, 2:14pm
by
The New Zealand Debt Management Office has announced the results of NZ Govt Bond tender number 578 held on July 28, 2016.
Tender Date: Thursday, July 28, 2016
Bids close: 2.00pm
Results: From 2.05pm
Settlement Date: Tuesday, August 2, 2016
| Jul 28 - #578 | Jun 23 - #575 | May 27 - #572 | Apr 29 - #569 | Mar 24 - #566 | Feb 25 - #563 | |
| Series Offered | 3.50% 14 Apr 2033 | 3.50% 14 Apr 2033 | 3.50% 14 Apr 2033 | 3.50% 14 Apr 2033 | 3.50% 14 Apr 2033 | 3.50% 14 Apr 2033 |
| Total Amount Offered ($million) | 150 | 150 | 150 | 150 | 100 | 100 |
| Total Amount Allocated ($million) | 150 | 150 | 150 | 150 | 100 | 100 |
| Total Number of Bids Received | 42 | 58 | 53 | 57 | 29 | 45 |
| Total Amount of Bids Received ($million) | 348 | 284 | 701 | 612 | 272 | 370 |
| Total Number of Successful Bids | 13 | 26 | 6 | 13 | 8 | 11 |
| Highest Yield Accepted (%) | 2.570 | 2.950 | 2.885 | 3.185 | 3.365 | 3.315 |
| Lowest Yield Accepted (%) | 2.540 | 2.905 | 2.880 | 3.150 | 3.345 | 3.305 |
| Highest Yield Rejected (%) | 2.645 | 3.095 | 3.010 | 3.220 | 3.440 | 3.400 |
| Lowest Yield Rejected (%) | 2.575 | 2.950 | 2.885 | 3.185 | 3.365 | 3.315 |
| Weighted Average Accepted Yield (%) | 2.5630 | 2.9270 | 2.8822 | 3.1649 | 3.3602 | 3.3084 |
| Weighted Average Rejected Yield (%) | 2.5990 | 2.9820 | 2.9257 | 3.2013 | 3.3781 | 3.3331 |
| Amount Allotted at Highest Accepted Yield as Percentage of Amount Bid at that Yield* | 100 | 46.5 | 65 | 8.1 | 56.7 | 21.8 |
| Coverage ratio | 2.32 | 1.893 | 4.6733 | 4.08 | 2.72 | 3.70 |
*Individual allotments may vary due to rounding.
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