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Tender 591 of NZ$150 mln 2037's received bids for NZ$465 mln; demand for long-dated bonds remains strong with coverag ratio of 3.1; average weighted yield over 4% after US Fed announcement

Bonds
Tender 591 of NZ$150 mln 2037's received bids for NZ$465 mln; demand for long-dated bonds remains strong with coverag ratio of 3.1; average weighted yield over 4% after US Fed announcement

The New Zealand Debt Management Office has announced the results of NZ Govt Bond tender number 591 held on December 15, 2016.

Tender Date: Thursday, December 15, 2016

Bids close: 2.00pm

Results: From 2.05pm

Settlement Date: Tuesday, December 20, 2016

  Dec 15 - #591
Series Offered 2.75% 15 Apr 2037
Total Amount Offered ($million) 150
Total Amount Allocated ($million) 150
Total Number of Bids Received 41
Total Amount of Bids Received ($million) 465
Total Number of Successful Bids 19
Highest Yield Accepted (%) 4.0650
Lowest Yield Accepted (%) 4.0400
Highest Yield Rejected (%) 4.1400
Lowest Yield Rejected (%) 4.0650
Weighted Average Accepted Yield (%) 4.0568
Weighted Average Rejected Yield (%) 4.0912
Amount Allotted at Highest Accepted Yield as Percentage of Amount Bid at that Yield* 25.0
Coverage ratio 3.1000

*Individual allotments may vary due to rounding.

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