NZ Govt Bond Tender #606; strong demand for 2025 bonds with coverage ratio of 4.3 times and weighted average yield of 2.62%

The New Zealand Debt Management Office has announced the results of NZ Govt Bond tender number 606 held on June 15, 2017.

Tender Date: Thursday, June 15, 2017

Bids close: 2.00pm

Results: From 2.05pm

Settlement Date: Tuesday, June 20, 2017

  Jun 15 - #606 May 18 - #603 Apr 20 - #600 Mar 16 - #597 Feb 16 - #595 Jan 19 - #592
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 ($million) 150 150 150 200 200 200
Total Amount Allocated ($million) 150 150 150 200 200 200
Total Number of bids Received 44 30 48 56 39 44
Total Amount of bids Received ($million) 643 512 675 1425 552 440
Total Number of Successful bids 14 1 7 9 14 22
Highest Yield Accepted (%) 2.6300 2.6950 2.8950 3.1350 3.2350 3.1400
Lowest Yield Accepted (%) 2.6150 2.6950 2.8850 3.1200 3.2150 3.1200
Highest Yield Rejected (%) 2.7100 2.7600 3.0050 3.2050 3.2750 3.1750
Lowest Yield Rejected (%) 2.6300 2.7000 2.8950 3.1350 3.2350 3.1400
Weighted Average Accepted Yield (%) 2.6222 2.6950 2.8890 3.1301 3.2252 3.1328
Weighted Average Rejected Yield (%) 2.6627 2.7256 2.9406 3.1596 3.2494 3.1559
Amount Allotted at Highest Accepted Yield as Percentage of Amount bid at that Yield* 27.8 100.0 50.0 58.3 70.6 72.7
Coverage ratio 4.2867 3.4133 4.5000 7.1250 2.7600 2.2000

*Individual allotments may vary due to rounding.

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