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NZ Govt Bond Tender #974; Tender Date 11 Dec 2025
11th Dec 25, 2:45pm
by
The New Zealand Debt Management Office has announced the results of NZ Govt Bond tender number 974 held on 11 Dec, 2025.
Tender Date: Thursday, 11 Dec, 2025.
Bids close: 2.30pm
Results: From 2.35pm
Settlement Date: Tuesday, 11 Dec 2025
(1) Nominal Bonds - Series Offered : 4.50% 15 May 2030
| Dec 11 #974 | Dec 1 #973 | Nov 27 #972 | Nov 13 #971 | |
| Series Offered : 4.50% 15 May 2030 | ||||
| Total Amount Offered ($million) | 175 | 150 | 225 | 250 |
| Total Amount Allocated ($million) | 175 | 150 | 225 | 250 |
| Total Number of Bids Received | 40 | 31 | 46 | 42 |
| Total Amount of Bids Received ($million) | 891 | 689 | 869 | 915 |
| Total Number of Successful Bids | 8 | 9 | 15 | 14 |
| Highest Yield Accepted (%) | 3.8050 | 3.5875 | 3.4775 | 3.2875 |
| Lowest Yield Accepted (%) | 3.7900 | 3.5750 | 3.4625 | 3.2725 |
| Highest Yield Rejected (%) | 3.8975 | 3.6425 | 3.5400 | 3.2425 |
| Lowest Yield Rejected (%) | 3.8050 | 3.5875 | 3.4775 | 3.2875 |
| Weighted Average Accepted Yield (%) | 3.7954 | 3.5810 | 3.4702 | 3.2826 |
| Weighted Average Rejected Yield (%) | 3.8444 | 3.3150 | 3.4981 | 3.2048 |
| Amount Allotted at Highest Accepted Yield as Percentage of Amount Bid at that Yield* | 50.00 | 39.00 | 31.90 | 68.80 |
| Coverage ratio | 5.09 | 4.59 | 3.86 | 3.66 |
(2) Series Offered : 3.50% 14 Apr 2033
| Dec 11 #974 | Sep 25 #964 | 23 May #948 | 27 Feb #937 | |
| Series Offered : 3.50% 14 Apr 2033 | ||||
| Total Amount Offered ($million) | 200 | 200 | 150 | 225 |
| Total Amount Allocated ($million) | 200 | 200 | 150 | 225 |
| Total Number of Bids Received | 41 | 58 | 32 | 37 |
| Total Amount of Bids Received ($million) | 665 | 901 | 500 | 530 |
| Total Number of Successful Bids | 12 | 18 | 15 | 21 |
| Highest Yield Accepted (%) | 4.2850 | 3.9850 | 4.4500 | 4.4550 |
| Lowest Yield Accepted (%) | 4.2675 | 3.9725 | 4.4300 | 4.4125 |
| Highest Yield Rejected (%) | 4.3775 | 4.0275 | 4.4950 | 4.5300 |
| Lowest Yield Rejected (%) | 4.2850 | 3.9850 | 4.4500 | 4.4550 |
| Weighted Average Accepted Yield (%) | 4.2772 | 3.9823 | 4.4420 | 4.4339 |
| Weighted Average Rejected Yield (%) | 4.3288 | 3.9996 | 4.4718 | 4.4836 |
| Amount Allotted at Highest Accepted Yield as Percentage of Amount Bid at that Yield* | 92.70 | 51.90 | 60.00 | 14.30 |
| Coverage ratio | 3.32 | 4.50 | 3.33 | 2.35 |
(3) Series Offered : 5.00% 15 May 2054
| Dec 11 #974 | Nov 13 #969 | Oct 30 #969 | Oct 23 #968 | |
| Series Offered : 5.00% 15 May 2054 | ||||
| Total Amount Offered ($million) | 75 | 50 | 50 | 50 |
| Total Amount Allocated ($million) | 75 | 50 | 50 | 50 |
| Total Number of Bids Received | 46 | 31 | 36 | 47 |
| Total Amount of Bids Received ($million) | 283 | 150 | 223 | 237 |
| Total Number of Successful Bids | 11 | 20 | 10 | 10 |
| Highest Yield Accepted (%) | 5.1475 | 5.0600 | 5.0050 | 4.8750 |
| Lowest Yield Accepted (%) | 5.1350 | 5.0350 | 4.9950 | 4.8600 |
| Highest Yield Rejected (%) | 5.2800 | 5.1100 | 5.0700 | 4.9200 |
| Lowest Yield Rejected (%) | 5.1475 | 5.0600 | 5.0050 | 4.8750 |
| Weighted Average Accepted Yield (%) | 5.1403 | 5.0497 | 4.9993 | 4.8678 |
| Weighted Average Rejected Yield (%) | 5.1858 | 5.0730 | 5.0309 | 4.9025 |
| Amount Allotted at Highest Accepted Yield as Percentage of Amount Bid at that Yield* | 26.70 | 21.90 | 62.50 | 72.70 |
| Coverage ratio | 3.77 | 3.00 | 4.46 | 4.74 |
*Individual allotments may vary due to rounding.
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