NZ Govt Bond Tender #643; weighted average accepted yield was 2.44%; coverage ratio was 3.4x

NZ Govt Bond Tender #643; weighted average accepted yield was 2.44%; coverage ratio was 3.4x

The New Zealand Debt Management Office has announced the results of NZ Govt Bond tender number 643 held on July 26, 2018.

Tender Date: Thursday, July 26, 2018

Bids close: 2.00pm

Results: From 2.05pm

Settlement Date: Tuesday, July 31, 2018

  Jul 26 - #643 Jun 14 - #638 May 24 - #635 Apr 12 - #632 Feb 15 - #627 Jan 18 - #624 Dec 15 - #623   Jul 20 - #609
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 ($million) 150 200 200 200 200 200 200   200
Total Amount Allocated ($million) 150 200 200 200 200 200 200   200
Total Number of bids Received 44 27 38 41 40 35 44   36
Total Amount of bids Received ($million) 513 435 797 604 557 662 772   400
Total Number of Successful bids 17 13 13 14 12 10 11   15
Highest Yield Accepted (%) 2.4450 2.6200 2.5650 2.6250 2.7800 2.6900 2.5700   2.8300
Lowest Yield Accepted (%) 2.4300 2.5950 2.5550 2.6150 2.7600 2.6800 2.5500   2.8050
Highest Yield Rejected (%) 2.4900 2.6500 2.6300 2.6750 2.8750 2.7400 2.6400   2.9300
Lowest Yield Rejected (%) 2.4450 2.6200 2.5650 2.6250 2.7800 2.6900 2.5700   2.8300
Weighted Average Accepted Yield (%) 2.4386 2.6042 2.5632 2.6218 2.7719 2.6875 2.5601   2.8190
Weighted Average Rejected Yield (%) 2.4604 2.6311 2.5741 2.6391 2.8046 2.7089 2.5902   2.8576
Amount Allotted at Highest Accepted Yield as Percentage of Amount bid at that Yield* 9.3 7.1 41.6 59.9 73.7 78.9 5.2   90.0
Coverage ratio 3.4200 2.1750 3.9850 3.0200 2.7850 3.3100 3.8600   2.0000

*Individual allotments may vary due to rounding.

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