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Tender #607 of NZ$150 mln 2037's saw strong demand with a coverage ratio of 3.3; weighted average yield for accepted bids was 3.28%

Bonds
Tender #607 of NZ$150 mln 2037's saw strong demand with a coverage ratio of 3.3; weighted average yield for accepted bids was 3.28%

The New Zealand Debt Management Office has announced the results of NZ Govt Bond tender number 607 held on June 23, 2017.

Tender Date: Friday, June 23, 2017

Bids close: 2.00pm

Results: From 2.05pm

Settlement Date: Wednesday, June 28, 2017

  Jun 23 - #607 May 26 - #604 Apr 27 - #601 Mar 24 - #598 Feb 23 - #596 Jan 26 - #593
Series Offered 2.75% 15 Apr 2037 2.75% 15 Apr 2037 2.75% 15 Apr 2037 2.75% 15 Apr 2037 2.75% 15 Apr 2037 2.75% 15 Apr 2037
Total Amount Offered ($million) 150 150 150 150 150 150
Total Amount Allocated ($million) 150 150 150 150 150 150
Total Number of Bids Received 51 30 51 37 57 54
Total Amount of Bids Received ($million) 502 349 495 421 626 544
Total Number of Successful Bids 19 12 15 20 12 14
Highest Yield Accepted (%) 3.2850 3.3450 3.5550 3.8600 3.9500 4.0250
Lowest Yield Accepted (%) 3.2650 3.3250 3.5400 3.8300 3.9350 3.9950
Highest Yield Rejected (%) 3.3550 3.4000 3.6250 3.9350 4.0500 4.1400
Lowest Yield Rejected (%) 3.2850 3.3450 3.5550 3.8600 3.9500 4.0250
Weighted Average Accepted Yield (%) 3.2779 3.3321 3.5518 3.8436 3.9458 4.0122
Weighted Average Rejected Yield (%) 3.3118 3.3662 3.5724 3.8979 3.9709 4.0640
Amount Allotted at Highest Accepted Yield as Percentage of Amount Bid at that Yield* 58.5 11.1 81.6 8.1 41.7 85.7
Coverage ratio 3.3467 2.3267 3.3000 2.8067 4.1733 3.6267

*Individual allotments may vary due to rounding.

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