NZ Govt Bond Tender #638; weighted average accepted yield was 2.60%; coverage ratio was 2.2x

The New Zealand Debt Management Office has announced the results of NZ Govt Bond tender number 638 held on June 14, 2018.

Tender Date: Thursday, June 14, 2018

Bids close: 2.00pm

Results: From 2.05pm

Settlement Date: Tuesday, June 19, 2018

  Jun 14 - #638 May 24 - #635 Apr 12 - #632 Feb 15 - #627 Jan 18 - #624 Dec 15 - #623 Nov 15 - #620   June 15 - #606
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 ($million) 200 200 200 200 200 200 200   150
Total Amount Allocated ($million) 200 200 200 200 200 200 200   150
Total Number of bids Received 27 38 41 40 35 44 33   44
Total Amount of bids Received ($million) 435 797 604 557 662 772 523   643
Total Number of Successful bids 13 13 14 12 10 11 15   14
Highest Yield Accepted (%) 2.6200 2.5650 2.6250 2.7800 2.6900 2.5700 2.6800   2.6300
Lowest Yield Accepted (%) 2.5950 2.5550 2.6150 2.7600 2.6800 2.5500 2.6550   2.6150
Highest Yield Rejected (%) 2.6500 2.6300 2.6750 2.8750 2.7400 2.6400 2.7450   2.7100
Lowest Yield Rejected (%) 2.6200 2.5650 2.6250 2.7800 2.6900 2.5700 2.6850   2.6300
Weighted Average Accepted Yield (%) 2.6042 2.5632 2.6218 2.7719 2.6875 2.5601 2.6711   2.6222
Weighted Average Rejected Yield (%) 2.6311 2.5741 2.6391 2.8046 2.7089 2.5902 2.7056   2.6627
Amount Allotted at Highest Accepted Yield as Percentage of Amount bid at that Yield* 7.1 41.6 59.9 73.7 78.9 5.2 100.0   27.8
Coverage ratio 2.1750 3.9850 3.0200 2.7850 3.3100 3.8600 2.6150   4.2867

*Individual allotments may vary due to rounding.

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