LGFA Bond Tender Number 51; weighted average yield accepted up to 2.93% and coverage ratio down to 1.55x; insufficient bids for the April 2025 bond offer

The LGFA has announced the results of LGFA Bond tender number 51 held on 8 November 2017.

Tender Date: Wed, 8 November 2017
Bids close: 2.00pm
Results: From 2.15pm
Settlement Date: Monday, 13 November 2017

  Today Previous (4-10-17) Previous (23-08-17)
Series 
Offered
3.00% 15 Apr 2020  6.00% 15 May 2021 5.50% 15 Apr 2023 2.75% 15 Apr 2025 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
Total Amount Offered ($million) 20 40 40 30 40 40 40 30 30 30 20
Total Amount Allocated ($million) 20 40 40 24 40 40 40 30 30 39 11
Total Number of Bids Received 10 12 7 5 8 9 15 14 13 12 11
Total Amount of Bids Received ($million) 39 77 61 24 100 81 144 116 107 74 30
Total Number of Successful Bids 4 6 5 5 2 2 6 4 2 5 6
Highest Yield Accepted (%) 2.435 2.695 3.070 3.535 2.210 2.495 3.665 2.485 2.765 3.160 3.780
Lowest Yield Accepted (%) 2.410 2.665 3.050 3.475 2.210 2.490 3.655 2.480 2.735 3.140 3.740
Highest Yield Rejected (%) 2.510 2.750 3.110 0.000 2.275 2.540 3.720 2.570 2.870 3.370 3.890
Lowest Yield Rejected (%) 2.435 2.695 3.070 0.000 2.210 2.500 3.665 2.485 2.765 3.160 3.790
Weighted Average Accepted Yield (%) 2.4324 2.6901 3.0650 3.5094 2.2100 2.4925 3.6594 2.4805 2.7400 3.1449 3.7664
Weighted Average Rejected Yield (%) 2.4658 2.7112 3.0831 0.0000 2.2363 2.5194 3.6843 2.5102 2.8025 3.2329 3.8258
Amount Allotted at Highest Accepted Yield as Percentage of Amount Bid at that Yield* 77.5 62.5 96.0 100.0 88.9 100.0 27.8 8.1 50.0 83.3 100.0
Coverage Ratio 1.9250 1.9125 1.525 0.800 2.5000 2.0312 3.6000 3.8667 3.5667 2.4667 1.5000

*Individual allotments may vary due to rounding.

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