NZ Govt Bond Tender #625; weighted average accepted yield rises to 3.26%; coverage ratio rises to 3.0x

NZ Govt Bond Tender #625; weighted average accepted yield rises to 3.26%; coverage ratio rises to 3.0x

The New Zealand Debt Management Office has announced the results of NZ Govt Bond tender number 625 held on January 25, 2018.

Tender Date: Thursday, January 25, 2018

Bids close: 2.00pm

Results: From 2.05pm

Settlement Date: Tuesday, January 30, 2018

  Jan 25 - #625 Nov 23 - #621 Oct 26 - #618  Sep 29 - #616 Aug 24 - #613 Jul 27 - #610 Nov 24 - #589 Oct 27 - #586 Sep 23 - #583
Series Offered 3.50% 14 April 2033 3.50% 14 April 2033 3.50% 14 April 2033 3.50% 14 April 2033 3.50% 14 April 2033 3.50% 14 April 2033 3.50% 14 Apr 2033 3.50% 14 Apr 2033 3.50% 14 Apr 2033
Total Amount Offered ($million)

150

150 150

150

150

150

150 150 150
Total Amount Allocated ($million) 150 150 150 150 150 150 150 150 150
Total Number of Bids Received 46 46 53 44 41 46 48 56 57
Total Amount of Bids Received ($million) 457 372 429 500 335 405 496 557 811
Total Number of Successful Bids 15 18 23 13 20 21 19 21 10
Highest Yield Accepted (%) 3.2600 3.1400 3.3800 3.3050 3.3000 3.3100 3.560 2.995 2.760
Lowest Yield Accepted (%) 3.2500 3.1250 3.3500 3.2900 3.2750 3.2850 3.540 2.965 2.735
Highest Yield Rejected (%) 3.3300 3.2100 3.4500 3.3800 3.3700 3.4000 3.600 3.090 2.820
Lowest Yield Rejected (%) 3.2600 3.1400 3.3800 3.3050 3.3000 3.3100 3.560 2.995 2.760
Weighted Average Accepted Yield (%) 3.2576 3.1338 3.3655 3.2958 3.2883 3.2996 3.5517 2.9843 2.7503
Weighted Average Rejected Yield (%) 3.2834 3.1610 3.4142 3.3390 3.3266 3.3453 3.5789 3.0150 2.7794
Amount Allotted at Highest Accepted Yield as Percentage of Amount Bid at that Yield* 92.6 60.6 36.4 20.0 44.4 96.8 35.6 22.2 31.9
Coverage ratio 3.0467 2.4800 2.8600 3.3333 2.2333 2.7000 3.3067 3.7133 5.4067

*Individual allotments may vary due to rounding.

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