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Latest bond tender of NZ$200 mln 2020's received bids for NZ$569 mln; over-subscribed by 2.8x; low number of bids accepted; weighted average yield accepted was 2.69% (vs 2.67% last tender)

Bonds
Latest bond tender of NZ$200 mln 2020's received bids for NZ$569 mln; over-subscribed by 2.8x; low number of bids accepted; weighted average yield accepted was 2.69% (vs 2.67% last tender)

The New Zealand Debt Management Office has announced the results of NZ Govt Bond tender number 553 held on September 24, 2015.

Tender Date: Thursday, September 24, 2015

Bids close: 2.00pm

Results: From 2.05pm

Settlement Date: Tuesday, September 29, 2015

  Today Sept 24 - #553 Previous Aug 27 - #550 Previous Jul 24 - #547
Series Offered 3.00% 15 Apr 2020 3.00% 15 Apr 2020 3.00% 15 Apr 2020
Total Amount Offered ($million) 200 200 200
Total Amount Allocated ($million) 200 200 200
Total Number of Bids Received 39 36 45
Total Amount of Bids Received ($million) 569 600 1,056
Total Number of Successful Bids 8 9 4
Highest Yield Accepted (%) 2.690 2.675 2.730
Lowest Yield Accepted (%) 2.680 2.660 2.725
Highest Yield Rejected (%) 2.750 2.760 2.820
Lowest Yield Rejected (%) 2.690 2.675 2.735
Weighted Average Accepted Yield (%) 2.6851 2.6671 2.7287
Weighted Average Rejected Yield (%) 2.7194 2.7009 2.7583
Amount Allotted at Highest Accepted Yield as Percentage of Amount Bid at that Yield* 22.2 50 100
Coverage ratio 2.845 3 5.280

*Individual allotments may vary due to rounding.

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