Govt Bond Tender #701; weighted average yield accepted was 1.31%; coverage ratio was 2.83x

Govt Bond Tender #701; weighted average yield accepted was 1.31%; coverage ratio was 2.83x

The New Zealand Debt Management Office has announced the results of NZ Govt Bond tender number 701 held on October 31, 2019.

Tender Date: Thursday, October 31, 2019

Bids close: 2.00pm

Results: From 2.05pm

Settlement Date: Tuesday, November 5, 2019

  Oct 09 - #701 Oct 09 - #698 Sep 12 - #695 Aug 8 - #691 Jul 11 - #687 Jun 13 - #683 May 9 - #679 Apr 11 - #676 Mar 14 - #672
Series Offered 3.00% 20 Apr 2029 3.00% 20 Apr 2029 3.00% 20 Apr 2029 3.00% 20 Apr 2029 3.00% 20 Apr 2029 3.00% 20 Apr 2029 3.00% 20 Apr 2029 3.00% 20 Apr 2029 3.00% 20 Apr 2029
Total Amount Offered ($million) 150 250 250 250 250 250 200 250 250
Total Amount Allocated ($million) 150 250 250 250 250 250 200 250 250
Total Number of Bids Received 38 49 26 47 51 54 41 54 32
Total Amount of Bids Received ($million) 425 494 330 758 732 722 503 777 640
Total Number of Successful Bids 11 20 18 11 7 25 14 25 3
Highest Yield Accepted (%) 1.3200 1.0500 1.3000 1.1200 1.5350 1.6950 1.8350 2.0450 2.0300
Lowest Yield Accepted (%) 1.3000 1.0250 1.2700 1.1100 1.5300 1.6750 1.8200 2.0250 2.0300
Highest Yield Rejected (%) 1.3900 1.1300 1.4500 1.2000 1.6400 1.7600 1.9300 2.1250 2.1050
Lowest Yield Rejected (%) 1.3200 1.0500 1.3050 1.1200 1.5350 1.6950 1.8350 2.0450 2.0300
Weighted Average Accepted Yield (%) 1.3071 1.0396 1.2898 1.1169 1.5346 1.6869 1.8281 2.0361 2.0300
Weighted Average Rejected Yield (%) 1.3335 1.0774 1.3756 1.1436 1.5625 1.7076 1.8592 2.0647 2.0574
Amount Allotted at Highest Accepted Yield as Percentage of Amount Bid at that Yield* 20.5 80.0 100.0 92.4 84.6 9.1 34.3 9.0 96.2
Coverage ratio 2.8333 1.9760 1.3200 3.0320 2.9280 2.8880 2.5150 3.1080 2.5600

*Individual allotments may vary due to rounding.

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