NZ Govt Bond Tender #689; weighted average accepted yield was 1.21%; coverage ratio was 2.92x

NZ Govt Bond Tender #689; weighted average accepted yield was 1.21%; coverage ratio was 2.92x

The New Zealand Debt Management Office has announced the results of NZ Govt Bond tender number 689 held on July 25, 2019.

Tender Date: Thursday, July 25, 2019

Bids close: 2.00pm

Results: From 2.05pm

Settlement Date: Tuesday, July 30, 2019

  Jul 18 - #689 Jun 18 - #685 May 23 - #681 Mar 28 - #674 Feb 28 - #670 Jan 31 - #666 Nov 22 - #660 Oct 25 - #656
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 2.75% 15 April 2025 2.75% 15 April 2025
Total Amount offered ($million) 250 150 150 200 200 200 150 150
Total Amount Allocated ($million) 250 150 150 200 200 200 150 150
Total Number of bids Received 33 30 20 26 37 44 30 39
Total Amount of bids Received ($million) 730 665 307 484 697 871 507 836
Total Number of Successful bids 13 9 10 7 19 11 6 4
Highest Yield Accepted (%) 1.2150 1.2700 1.4550 1.4500 1.8200 1.9150 2.3800 2.1900
Lowest Yield Accepted (%) 1.2000 1.2650 1.4350 1.4300 1.7950 1.9050 2.3750 2.1850
Highest Yield Rejected (%) 1.3450 1.3700 1.4700 1.4900 1.8700 1.9600 2.4300 2.2300
Lowest Yield Rejected (%) 1.2150 1.2700 1.4550 1.4500 1.8200 1.9150 2.3800 2.1900
Weighted Average Accepted Yield (%) 1.2096 1.2688 1.4452 1.4456 1.8098 1.9118 2.3793 2.1883
Weighted Average Rejected Yield (%) 1.2318 1.2855 1.4632 1.4608 1.8399 1.9290 2.3922 2.2073
Amount Allotted at Highest Accepted Yield as Percentage of Amount bid at that Yield* 27.8 59.6 3.2 75.6 29.5 81.5 59.5 74.1
Coverage ratio 2.9200 4.4333 2.0467 2.4200 3.4850 4.3550 3.3800 5.5733

*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.

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.