NZ Govt Bond Tender #580; 2025 maturity proving popular with investors; 4.8 time covered with $720 mln worth of bids received; average weighted accepted yield 2.04% (previously 2.12%)

NZ Govt Bond Tender #580; 2025 maturity proving popular with investors; 4.8 time covered with $720 mln worth of bids received; average weighted accepted yield 2.04% (previously 2.12%)

The New Zealand Debt Management Office has announced the results of NZ Govt Bond tender number 580 held on August 18, 2016.

Tender Date: Thursday, August 18, 2016

Bids close: 2.00pm

Results: From 2.05pm

Settlement Date: Tuesday, August 23, 2016

  Aug 18 - #580 July 21 - #577
Series Offered 2.75% 15 April 2025 2.75% 15 April 2025
Total Amount offered ($million) 150 150
Total Amount Allocated ($million) 150 150
Total Number of bids Received 56 37
Total Amount of bids Received ($million) 720 394
Total Number of Successful bids 14 14
Highest Yield Accepted (%) 2.0500 2.1400
Lowest Yield Accepted (%) 2.0300 2.1050
Highest Yield Rejected (%) 2.1100 2.2250
Lowest Yield Rejected (%) 2.0500 2.1400
Weighted Average Accepted Yield (%) 2.0408 2.1243
Weighted Average Rejected Yield (%) 2.0705 2.1663
Amount Allotted at Highest Accepted Yield as Percentage of Amount bid at that Yield* 30.0 83.3
Coverage ratio 4.8000 2.6267

*Individual allotments may vary due to rounding.

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