NZ Govt Bond Tender #705; weighted average accepted yield was 1.07%; coverage ratio was 3.7x

NZ Govt Bond Tender #705; weighted average accepted yield was 1.07%; coverage ratio was 3.7x

The New Zealand Debt Management Office has announced the results of NZ Govt Bond tender number 705 held on November 28, 2019.

Tender Date: Thursday, November 28, 2019

Bids close: 2.00pm

Results: From 2.05pm

Settlement Date: Tuesday, December 3, 2019

  Nov 28 - #705 Oct 24 - #700 Sep 26 - #696 Aug 21 - #693 Jul 18 - #689 Jun 18 - #685 May 23 - #681 Mar 28 - #674
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 ($million) 250 250 250 250 250 150 150 200
Total Amount Allocated ($million) 250 250 250 250 250 150 150 200
Total Number of bids Received 29 36 32 28 33 30 20 26
Total Amount of bids Received ($million) 922 639 815 553 730 665 307 484
Total Number of Successful bids 13 16 12 11 13 9 10 7
Highest Yield Accepted (%) 1.0800 0.9750 0.9110 0.8450 1.2150 1.2700 1.4550 1.4500
Lowest Yield Accepted (%) 1.0600 0.9600 0.9000 0.8300 1.2000 1.2650 1.4350 1.4300
Highest Yield Rejected (%) 1.1300 1.0000 1.0500 0.900 1.3450 1.3700 1.4700 1.4900
Lowest Yield Rejected (%) 1.0800 0.9750 0.9100 0.8450 1.2150 1.2700 1.4550 1.4500
Weighted Average Accepted Yield (%) 1.0715 0.9710 0.9049 0.8411 1.2096 1.2688 1.4452 1.4456
Weighted Average Rejected Yield (%) 1.0897 0.9877 0.9263 0.8518 1.2318 1.2855 1.4632 1.4608
Amount Allotted at Highest Accepted Yield as Percentage of Amount bid at that Yield* 36.8 91.5 20.0 72.1 27.8 59.6 3.2 75.6
Coverage ratio 3.6880 2.5560 3.2600 2.2120 2.9200 4.4333 2.0467 2.4200

*Individual allotments may vary due to rounding.

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