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NZ Govt Bond Tender #973; Tender Date 4 Dec 2025
4th Dec 25, 3:00pm
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The New Zealand Debt Management Office has announced the results of NZ Govt Bond tender number 973 held on 4 Dec, 2025.
Tender Date: Thursday, 4 Dec, 2025.
Bids close: 2.30pm
Results: From 2.35pm
Settlement Date: Tuesday, 9 Dec 2025
(1) Nominal Bonds - Series Offered : 4.50% 15 May 2030
| Dec 1 #973 | Nov 27 #972 | Nov 13 #971 | Oct 30 #969 | |
| Series Offered : 4.50% 15 May 2030 | ||||
| Total Amount Offered ($million) | 150 | 225 | 250 | 250 |
| Total Amount Allocated ($million) | 150 | 225 | 250 | 250 |
| Total Number of Bids Received | 31 | 46 | 42 | 52 |
| Total Amount of Bids Received ($million) | 689 | 869 | 915 | 945 |
| Total Number of Successful Bids | 9 | 15 | 14 | 12 |
| Highest Yield Accepted (%) | 3.5875 | 3.4775 | 3.2875 | 3.3050 |
| Lowest Yield Accepted (%) | 3.5750 | 3.4625 | 3.2725 | 3.2925 |
| Highest Yield Rejected (%) | 3.6425 | 3.5400 | 3.2425 | 3.3875 |
| Lowest Yield Rejected (%) | 3.5875 | 3.4775 | 3.2875 | 3.3050 |
| Weighted Average Accepted Yield (%) | 3.5810 | 3.4702 | 3.2826 | 3.2981 |
| Weighted Average Rejected Yield (%) | 3.3150 | 3.4981 | 3.2048 | 3.3366 |
| Amount Allotted at Highest Accepted Yield as Percentage of Amount Bid at that Yield* | 39.00 | 31.90 | 68.80 | 74.10 |
| Coverage ratio | 4.59 | 3.86 | 3.66 | 3.78 |
(2) Series Offered : 4.50% 15 May 2035
| Dec 1 #973 | 6 Nov #959 | 16 Oct #967 | Oct 2 #965 | |
| Series Offered : 4.50% 15 May 2035 | ||||
| Total Amount Offered ($million) | 225 | 175 | 200 | 200 |
| Total Amount Allocated ($million) | 225 | 175 | 200 | 200 |
| Total Number of Bids Received | 39 | 55 | 50 | 54 |
| Total Amount of Bids Received ($million) | 612 | 673 | 840 | 770 |
| Total Number of Successful Bids | 14 | 23 | 13 | 16 |
| Highest Yield Accepted (%) | 4.3025 | 4.1375 | 3.9950 | 4.1875 |
| Lowest Yield Accepted (%) | 4.2875 | 4.1150 | 3.9850 | 4.1725 |
| Highest Yield Rejected (%) | 4.3725 | 4.1900 | 4.0625 | 4.2650 |
| Lowest Yield Rejected (%) | 4.3025 | 4.1375 | 3.9950 | 4.1875 |
| Weighted Average Accepted Yield (%) | 4.2953 | 4.1287 | 3.9923 | 4.1817 |
| Weighted Average Rejected Yield (%) | 4.3332 | 4.1560 | 4.0155 | 4.2151 |
| Amount Allotted at Highest Accepted Yield as Percentage of Amount Bid at that Yield* | 80.00 | 8.20 | 66.10 | 75.00 |
| Coverage ratio | 2.72 | 3.84 | 4.20 | 3.85 |
(3) Series Offered : 2.75% 15 May 2051
| Dec 1 #973 | 19 Jun #952 | 8 May #946 | 5 Feb #935 | |
| Series Offered : 2.75% 15 May 2051 | ||||
| Total Amount Offered ($million) | 75 | 50 | 50 | 50 |
| Total Amount Allocated ($million) | 75 | 50 | 50 | 50 |
| Total Number of Bids Received | 41 | 23 | 32 | 35 |
| Total Amount of Bids Received ($million) | 392 | 176 | 172 | 209 |
| Total Number of Successful Bids | 3 | 2 | 13 | 7 |
| Highest Yield Accepted (%) | 5.0975 | 5.2525 | 5.1350 | 5.0875 |
| Lowest Yield Accepted (%) | 5.0875 | 5.2475 | 5.1000 | 5.0825 |
| Highest Yield Rejected (%) | 5.1800 | 5.3375 | 5.1950 | 5.1700 |
| Lowest Yield Rejected (%) | 5.0975 | 5.2525 | 5.1350 | 5.0900 |
| Weighted Average Accepted Yield (%) | 5.0923 | 5.2495 | 5.1148 | 5.0855 |
| Weighted Average Rejected Yield (%) | 5.1310 | 5.2974 | 5.1522 | 5.1236 |
| Amount Allotted at Highest Accepted Yield as Percentage of Amount Bid at that Yield* | 88.50 | 66.70 | 25.00 | 100.00 |
| Coverage ratio | 5.23 | 5.52 | 3.44 | 4.18 |
*Individual allotments may vary due to rounding.
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