NZ Govt Bond Tender #603; total amount allotted to one bidder at a yield of 2.6950%; bonds attracted total bids of 512 mln - a coverage ratio of 3.4133

The New Zealand Debt Management Office has announced the results of NZ Govt Bond tender number 603 held on May 18, 2017.

Tender Date: Thursday, May 18, 2017

Bids close: 2.00pm

Results: From 2.05pm

Settlement Date: Tuesday, May 23, 2017

  May 18 - #603 Apr 20 - #600 Mar 16 - #597 Feb 16 - #595 Jan 19 - #592 Nov 17 - #588
Series Offered 2.75% 15 April 2025 2.75% 15 April 2025 2.75% 15 April 2025 2.75% 15 April 2025 2.75% 15 April 2025 2.75% 15 April 2025
Total Amount offered ($million) 150 150 200 200 200 150
Total Amount Allocated ($million) 150 150 200 200 200 150
Total Number of bids Received 30 48 56 39 44 40
Total Amount of bids Received ($million) 512 675 1425 552 440 740
Total Number of Successful bids 1 7 9 14 22 5
Highest Yield Accepted (%) 2.6950 2.8950 3.1350 3.2350 3.1400 2.8800
Lowest Yield Accepted (%) 2.6950 2.8850 3.1200 3.2150 3.1200 2.8700
Highest Yield Rejected (%) 2.7600 3.0050 3.2050 3.2750 3.1750 2.9550
Lowest Yield Rejected (%) 2.7000 2.8950 3.1350 3.2350 3.1400 2.8800
Weighted Average Accepted Yield (%) 2.6950 2.8890 3.1301 3.2252 3.1328 2.8772
Weighted Average Rejected Yield (%) 2.7256 2.9406 3.1596 3.2494 3.1559 2.9026
Amount Allotted at Highest Accepted Yield as Percentage of Amount bid at that Yield* 100.0 50.0 58.3 70.6 72.7 87.5
Coverage ratio 3.4133 4.5000 7.1250 2.7600 2.2000 4.9333

*Individual allotments may vary due to rounding.

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