NZ Govt Bond Tender #615; weighted average yield accepted rises to 2.91% and coverage ratio rises to 3.19x

The New Zealand Debt Management Office has announced the results of NZ Govt Bond tender number 615 held on September 21, 2017.

Tender Date: Thursday, September 21, 2017

Bids close: 2.00pm

Results: From 2.05pm

Settlement Date: Tuesday, September 26, 2017

  Sep 17 - #615 Aug 17 - #612 Jul 20 - #609 Jun 15 - #606 May 18 - #603   Sep 16 - #582
Series Offered 2.75% 15 April 2025 2.75% 15 April 2025 2.75% 15 April 2025 2.75% 15 April 2025 2.75% 15 April 2025   2.75% 15 April 2025
Total Amount offered ($million) 200

200

200 150 150   150
Total Amount Allocated ($million) 200 200 200 150 150   150
Total Number of bids Received 41 32 36 44 30   39
Total Amount of bids Received ($million) 638 410 400 643 512   480
Total Number of Successful bids 12 20 15 14 1   18
Highest Yield Accepted (%) 2.9150 2.7100 2.8300 2.6300 2.6950   2.3850
Lowest Yield Accepted (%) 2.8950 2.6900 2.8050 2.6150 2.6950   2.3600
Highest Yield Rejected (%) 2.9950 2.7800 2.9300 2.7100 2.7600   2.4450
Lowest Yield Rejected (%) 2.9150 2.7150 2.8300 2.6300 2.7000   2.3850
Weighted Average Accepted Yield (%) 2.9072 2.7020 2.8190 2.6222 2.6950   2.3762
Weighted Average Rejected Yield (%) 2.9392 2.7418 2.8576 2.6627 2.7256   2.4129
Amount Allotted at Highest Accepted Yield as Percentage of Amount bid at that Yield* 52.4 100.0 90.0 27.8 100.0   83.3
Coverage ratio 3.1900 2.0500 2.0000 4.2867 3.4133   3.2000

*Individual allotments may vary due to rounding.

We welcome your help to improve our coverage of this issue. Any examples or experiences to relate? Any links to other news, data or research to shed more light on this? Any insight or views on what might happen next or what should happen next? Any errors to correct?

We welcome your comments below. If you are not already registered, please register to comment or click on the "Register" link below a comment.

Remember we welcome robust, respectful and insightful debate. We don't welcome abusive or defamatory comments and will de-register those repeatedly making such comments. Our current Comment policy is here.