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Tender 583 of NZ$150 mln 2033's received bids for NZ$811 mln; punters just can't get enough of this maturity; coverage ratio 5.4x; average weighted yield jumps to 2.75% (previously 2.56%)

Bonds
Tender 583 of NZ$150 mln 2033's received bids for NZ$811 mln; punters just can't get enough of this maturity; coverage ratio 5.4x; average weighted yield jumps to 2.75% (previously 2.56%)

The New Zealand Debt Management Office has announced the results of NZ Govt Bond tender number 583 held on September 23, 2016.

Tender Date: Friday, September 23, 2016

Bids close: 2.00pm

Results: From 2.05pm

Settlement Date: Wednesday, September 28, 2016

  Sep 23 - #583 Jul 28 - #578 Jun 23 - #575 May 27 - #572 Apr 29 - #569 Mar 24 - #566
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 ($million) 150 150 150 150 150 100
Total Amount Allocated ($million) 150 150 150 150 150 100
Total Number of Bids Received 57 42 58 53 57 29
Total Amount of Bids Received ($million) 811 348 284 701 612 272
Total Number of Successful Bids 10 13 26 6 13 8
Highest Yield Accepted (%) 2.760 2.570 2.950 2.885 3.185 3.365
Lowest Yield Accepted (%) 2.735 2.540 2.905 2.880 3.150 3.345
Highest Yield Rejected (%) 2.820 2.645 3.095 3.010 3.220 3.440
Lowest Yield Rejected (%) 2.760 2.575 2.950 2.885 3.185 3.365
Weighted Average Accepted Yield (%) 2.7503 2.5630 2.9270 2.8822 3.1649 3.3602
Weighted Average Rejected Yield (%) 2.7794 2.5990 2.9820 2.9257 3.2013 3.3781
Amount Allotted at Highest Accepted Yield as Percentage of Amount Bid at that Yield* 31.9 100 46.5 65 8.1 56.7
Coverage ratio 5.4067 2.3200 1.8930 4.6733 4.0800 2.7200

*Individual allotments may vary due to rounding.

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