Bonds
Improved success rate across bidders in latest Government inflation linked tender; not as well bid and average weighted accepted yield was lower at 2.37% (previously 2.55%)
4th Dec 14, 2:20pm
by
The results from the latest inflation indexed bond offer by the Treasury's Debt Management Office have been released.
The coverage ratio was lower than last time but the success rate considerably higher than it is been for some time.
The current yield on the NZ Govt bond with the longest duration and which is quoted on the NZDX (i.e. matures in 2023) is approximately 3.87% (previously 3.96% at time of last tender).
| 3.00% - 20 September 2030 | Today # 532 | Prior# 530 | Prior# 528 | Prior # 524 | Prior # 522 |
| Series offered |
tender December 4, 2014 |
tender November 13, 2014 |
tender October 9, 2014 |
tender August 7, 2014 |
tender July 10, 2014 |
| Total Amount Offered ($million) | 100 | 100 | 100 | 200 | 200 |
| Total Amount Allocated ($million) | 100 | 100 | 100 | 200 | 200 |
| Total Number of Bids Received | 41 | 44 | 51 | 53 | 37 |
| Total Amount of Bids Received ($million) | 251 | 382 | 262 | 490 | 525 |
| Total Number of Successful Bids | 20 | 3 | 21 | 19 | 5 |
| Highest Yield Accepted (%) | 2.390 | 2.550 | 2.570 | 2.690 | 2.840 |
| Lowest Yield Accepted (%) | 2.340 | 2.550 | 2.510 | 2.650 | 2.825 |
| Highest Yield Rejected (%) | 2.500 | 2.760 | 2.800 | 2.840 | 3.000 |
| Lowest Yield Rejected (%) | 2.390 | 2.550 | 2.570 | 2.690 | 2.840 |
| Weighted Average Accepted Yield (%) | 2.3659 | 2.5500 | 2.5567 | 2.6742 | 2.8266 |
| Weighted Average Rejected Yield (%) | 2.4229 | 2.6568 | 2.6437 | 2.7224 | 2.8668 |
|
Amount Allotted at Highest Accepted Yield as Percentage of Amount Bid at that Yield* |
60 | 96.2 | 93.5 | 43 | 61 |
| Coverage Ratio | 2.51 | 3.82 | 2.62 | 2.45 | 2.625 |
*Individual allotments may vary due to rounding.
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