Bonds
Latest bond tender of NZ$300 mln received bids for $703 mln with weighted average accepted yield of 2.8293% (versus 2.3204% previously)
5th Sep 13, 2:32pm
by
The New Zealand Debt Management Office (NZDMO) auctioned $300 million 20 September 2025 inflation-indexed New Zealand Government bonds with a successful weighted average yield of 2.8293%.
Inflation is currently running at approximately 0.7% which would mean a nominal yield of 3.5293%.
By comparison the yield on 10-year NZ government stock (maturing 2023) which is not inflation adjusted is trading at approximately 4.69% p.a. (previously 4.19%)
This latest tender was also over-subscribed with a coverage ratio of 2.3433 times.
| Current | Previous | |
| Series Offered | 2.00% 20 Sept 2025 | 2.00% 20 Sept 2025 |
| Total Amount Offered ($million) | 300 | 300 |
| Total Amount Allocated ($million) | 300 | 300 |
| Total Number of Bids Received | 70 | 74 |
| Total Amount of Bids Received ($million) | 703 | 683 |
| Total Number of Successful Bids | 27 | 20 |
| Highest Yield Accepted (%) | 2.860 | 2.350 |
| Lowest Yield Accepted (%) | 2.800 | 2.300 |
| Highest Yield Rejected (%) | 3.250 | 2.770 |
| Lowest Yield Rejected (%) | 2.860 | 2.350 |
| Weighted Average Accepted Yield (%) | 2.8293 | 2.3204 |
| Weighted Average Rejected Yield (%) | 2.9550 | 2.4504 |
| Amount Allotted at Highest Accepted Yield as Percentage of Amount Bid at that Yield* | 27 | 84 |
| Coverage Ratio | 2.3433 | 2.2767 |
*Individual allotments may vary due to rounding.
Tender Date: Thu, 5 September 2013
Settlement Date: Tue, 10 September 2013
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