LGFA Bond Tender Number 50; coverage ratio falls from 3.0x to 2.7x; weighted average yield for the issue was 2.79%

The LGFA has announced the results of LGFA Bond tender number 50 held on 4 October 2017.

Tender Date: Wed, 4 October 2017
Bids close: 2.00pm
Results: From 2.15pm
Settlement Date: Monday, 9 October 2017

  Today Previous (23-08-17) Previous (19-07-17)
Series 
Offered
5.00% 15 Mar 2019 3.00% 15 Apr 2020 2.75% 15 Apr 2025 3.00%
15 Apr 2020
6.00%
15 May 2021
5.50%
15 Apr 2023
4.50%
15 Apr 2027
3.00%
15 Apr 2020
2.75%
15 Apr 2025
4.50%
15 Apr 2027
3.50%
14 Apr 2033
Total Amount Offered ($million) 40 40 40 30 30 30 20 50 40 25 30
Total Amount Allocated ($million) 40 40 40 30 30 39 11 50 40 25 30
Total Number of Bids Received 8 9 15 14 13 12 11 10 17 8 14
Total Amount of Bids Received ($million) 100 81 144 116 107 74 30 106 65 38 43
Total Number of Successful Bids 2 2 6 4 2 5 6 1 10 5 12
Highest Yield Accepted (%) 2.210 2.495 3.665 2.485 2.765 3.160 3.780 2.535 3.590 3.800 4.470
Lowest Yield Accepted (%) 2.210 2.490 3.655 2.480 2.735 3.140 3.740 2.535 3.550 3.770 4.350
Highest Yield Rejected (%) 2.275 2.540 3.720 2.570 2.870 3.370 3.890 2.600 3.625 3.850 4.580
Lowest Yield Rejected (%) 2.210 2.500 3.665 2.485 2.765 3.160 3.790 2.540 3.590 3.800 4.470
Weighted Average Accepted Yield (%) 2.2100 2.4925 3.6594 2.4805 2.7400 3.1449 3.7664 2.5350 3.5716 3.7772 4.4098
Weighted Average Rejected Yield (%) 2.2363 2.5194 3.6843 2.5102 2.8025 3.2329 3.8258 2.5625 3.6035 3.8246 4.5412
Amount Allotted at Highest Accepted Yield as Percentage of Amount Bid at that Yield* 88.9 100.0 27.8 8.1 50.0 83.3 100.0 100.0 56.8 50.0 40.0
Coverage Ratio 2.5000 2.0312 3.6000 3.8667 3.5667 2.4667 1.5000 2.1200 1.6216 1.5200 1.4333

*Individual allotments may vary due to rounding.

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