Govt Bond Tender #707; weighted average yield accepted was 1.50%; coverage ratio was 2.53x

Govt Bond Tender #707; weighted average yield accepted was 1.50%; coverage ratio was 2.53x

The New Zealand Debt Management Office has announced the results of NZ Govt Bond tender number 707 held on December 12, 2019.

Tender Date: Thursday, December 12, 2019

Bids close: 2.00pm

Results: From 2.05pm

Settlement Date: Tuesday, December 17, 2019

  Oct 09 - #707 Oct 09 - #703 Oct 09 - #701 Oct 09 - #698 Sep 12 - #695 Aug 8 - #691 Jul 11 - #687 Jun 13 - #683 May 9 - #679
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 ($million) 250 250 150 250 250 250 250 250 200
Total Amount Allocated ($million) 250 250 150 250 250 250 250 250 200
Total Number of Bids Received 43 51 38 49 26 47 51 54 41
Total Amount of Bids Received ($million) 633 610 425 494 330 758 732 722 503
Total Number of Successful Bids 12 17 11 20 18 11 7 25 14
Highest Yield Accepted (%) 1.5050 1.4350 1.3200 1.0500 1.3000 1.1200 1.5350 1.6950 1.8350
Lowest Yield Accepted (%) 1.4900 1.4250 1.3000 1.0250 1.2700 1.1100 1.5300 1.6750 1.8200
Highest Yield Rejected (%) 1.5450 1.5200 1.3900 1.1300 1.4500 1.2000 1.6400 1.7600 1.9300
Lowest Yield Rejected (%) 1.5050 1.4350 1.3200 1.0500 1.3050 1.1200 1.5350 1.6950 1.8350
Weighted Average Accepted Yield (%) 1.4988 1.4308 1.3071 1.0396 1.2898 1.1169 1.5346 1.6869 1.8281
Weighted Average Rejected Yield (%) 1.5148 1.4574 1.3335 1.0774 1.3756 1.1436 1.5625 1.7076 1.8592
Amount Allotted at Highest Accepted Yield as Percentage of Amount Bid at that Yield* 46.60 69.2 20.5 80.0 100.0 92.4 84.6 9.1 34.3
Coverage ratio 2.5320 2.4400 2.8333 1.9760 1.3200 3.0320 2.9280 2.8880 2.5150

*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.

Your access to our unique content is free - always has been. But ad revenues are diving so we need your direct support.

Become a supporter

Thanks, I'm already a supporter.