NZ Govt Bond Tender #624; weighted average accepted yield rises to 2.69%; coverage ratio slightly lower at 3.3x

The New Zealand Debt Management Office has announced the results of NZ Govt Bond tender number 624 held on January 18, 2018.

Tender Date: Thursday, January 18, 2018

Bids close: 2.00pm

Results: From 2.05pm

Settlement Date: Tuesday, Janaury 23, 2018

  Jan 18 - #624 Dec 15 - #623 Nov 15 - #620 Oct 19 - #617 Sep 21 - #615 Aug 17 - #612 Jul 20 - #609   Jan 19 - #592
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 2.75% 15 April 2025   2.75% 15 April 2025
Total Amount offered ($million) 200 200 200 200 200

200

200   200
Total Amount Allocated ($million) 200 200 200 200 200 200 200   200
Total Number of bids Received 35 44 33 43 41 32 36   44
Total Amount of bids Received ($million) 662 772 523 532 638 410 400   440
Total Number of Successful bids 10 11 15 20 12 20 15   22
Highest Yield Accepted (%) 2.6900 2.5700 2.6800 2.7650 2.9150 2.7100 2.8300   3.1400
Lowest Yield Accepted (%) 2.6800 2.5500 2.6550 2.7400 2.8950 2.6900 2.8050   3.1200
Highest Yield Rejected (%) 2.7400 2.6400 2.7450 2.8300 2.9950 2.7800 2.9300   3.1750
Lowest Yield Rejected (%) 2.6900 2.5700 2.6850 2.7650 2.9150 2.7150 2.8300   3.1400
Weighted Average Accepted Yield (%) 2.6875 2.5601 2.6711 2.7545 2.9072 2.7020 2.8190   3.1328
Weighted Average Rejected Yield (%) 2.7089 2.5902 2.7056 2.7942 2.9392 2.7418 2.8576   3.1559
Amount Allotted at Highest Accepted Yield as Percentage of Amount bid at that Yield* 78.9 5.2 100.0 76.9 52.4 100.0 90.0   72.7
Coverage ratio 3.3100 3.8600 2.6150 2.6600 3.1900 2.0500 2.0000   2.2000

*Individual allotments may vary due to rounding.

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