NZ Govt Bond Tender #612; weighted average yield accepted drops to 2.70% and coverage ratio is stable at 2.05

The New Zealand Debt Management Office has announced the results of NZ Govt Bond tender number 612 held on August 17, 2017.

Tender Date: Thursday, August 17, 2017

Bids close: 2.00pm

Results: From 2.05pm

Settlement Date: Tuesday, August 22, 2017

  Aug 17 - #612 Jul 20 - #609 Jun 15 - #606 May 18 - #603 Apr 20 - #600   Aug 16 - #580
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)

200

200 150 150 150   150
Total Amount Allocated ($million) 200 200 150 150 150   150
Total Number of bids Received 32 36 44 30 48   56
Total Amount of bids Received ($million) 410 400 643 512 675   720
Total Number of Successful bids 20 15 14 1 7   14
Highest Yield Accepted (%) 2.7100 2.8300 2.6300 2.6950 2.8950   2.0500
Lowest Yield Accepted (%) 2.6900 2.8050 2.6150 2.6950 2.8850   2.0300
Highest Yield Rejected (%) 2.7800 2.9300 2.7100 2.7600 3.0050   2.1100
Lowest Yield Rejected (%) 2.7150 2.8300 2.6300 2.7000 2.8950   2.0500
Weighted Average Accepted Yield (%) 2.7020 2.8190 2.6222 2.6950 2.8890   2.0408
Weighted Average Rejected Yield (%) 2.7418 2.8576 2.6627 2.7256 2.9406   2.0705
Amount Allotted at Highest Accepted Yield as Percentage of Amount bid at that Yield* 100.0 90.0 27.8 100.0 50.0   30.0
Coverage ratio 2.0500 2.0000 4.2867 3.4133 4.5000   4.8000

*Individual allotments may vary due to rounding.

We welcome your help to improve our coverage of this issue. Any examples or experiences to relate? Any links to other news, data or research to shed more light on this? Any insight or views on what might happen next or what should happen next? Any errors to correct?

We welcome your comments below. If you are not already registered, please register to comment or click on the "Register" link below a comment.

Remember we welcome robust, respectful and insightful debate. We don't welcome abusive or defamatory comments and will de-register those repeatedly making such comments. Our current Comment policy is here.