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NZ Govt Bond Tender #647; weighted average accepted yield was 2.23%; coverage ratio was 5.2x

Bonds
NZ Govt Bond Tender #647; weighted average accepted yield was 2.23%; coverage ratio was 5.2x
23rd Aug 18, 2:08pm by Suraj Varma

The New Zealand Debt Management Office has announced the results of NZ Govt Bond tender number 647 held on August 23, 2018.

Tender Date: Thursday, August 23, 2018

Bids close: 2.00pm

Results: From 2.05pm

Settlement Date: Tuesday, August 28, 2018

  Aug 23 - #647 Jul 26 - #643 Jun 14 - #638 May 24 - #635 Apr 12 - #632 Feb 15 - #627 Jan 18 - #624   Aug 17 - #612
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 ($million) 150 150 200 200 200 200 200   200
Total Amount Allocated ($million) 150 150 200 200 200 200 200   200
Total Number of bids Received 46 44 27 38 41 40 35   32
Total Amount of bids Received ($million) 787 513 435 797 604 557 662   410
Total Number of Successful bids 12 17 13 13 14 12 10   20
Highest Yield Accepted (%) 2.2300 2.4450 2.6200 2.5650 2.6250 2.7800 2.6900   2.7100
Lowest Yield Accepted (%) 2.2200 2.4300 2.5950 2.5550 2.6150 2.7600 2.6800   2.6900
Highest Yield Rejected (%) 2.3000 2.4900 2.6500 2.6300 2.6750 2.8750 2.7400   2.7800
Lowest Yield Rejected (%) 2.2300 2.4450 2.6200 2.5650 2.6250 2.7800 2.6900   2.7150
Weighted Average Accepted Yield (%) 2.2253 2.4386 2.6042 2.5632 2.6218 2.7719 2.6875   2.7020
Weighted Average Rejected Yield (%) 2.2426 2.4604 2.6311 2.5741 2.6391 2.8046 2.7089   2.7418
Amount Allotted at Highest Accepted Yield as Percentage of Amount bid at that Yield* 15.4 9.3 7.1 41.6 59.9 73.7 78.9   100.0
Coverage ratio 5.2467 3.4200 2.1750 3.9850 3.0200 2.7850 3.3100   2.0500

*Individual allotments may vary due to rounding.

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