NZ Govt Bond Tender #650; weighted average yield accepted was 2.57%; coverage ratio was 3.08x

The New Zealand Debt Management Office has announced the results of NZ Govt Bond tender number 650 held on September 13, 2018.

Tender Date: Thursday, September 13, 2018

Bids close: 2.00pm

Results: From 2.05pm

Settlement Date: Tuesday, September 18, 2018

  Sep 13 - #650 Aug 30 - #648 Aug 10 - #645 Jul 12 - #641
Series Offered 3.00% 20 Apr 2029 3.00% 20 Apr 2029 3.00% 20 Apr 2029 3.00% 20 Apr 2029
Total Amount Offered ($million) 250 250 250 250
Total Amount Allocated ($million) 250 250 250 250
Total Number of Bids Received 57 59 64 51
Total Amount of Bids Received ($million) 769 731 873 463
Total Number of Successful Bids 15 27 3 28
Highest Yield Accepted (%) 2.5750 2.5800 2.5900 2.8700
Lowest Yield Accepted (%) 2.5600 2.5500 2.5800 2.8400
Highest Yield Rejected (%) 2.6300 2.6500 2.7100 2.9300
Lowest Yield Rejected (%) 2.5750 2.5800 2.5950 2.8700
Weighted Average Accepted Yield (%) 2.5711 2.5676 2.5860 2.8597
Weighted Average Rejected Yield (%) 2.5891 2.6036 2.6304 2.8836
Amount Allotted at Highest Accepted Yield as Percentage of Amount Bid at that Yield* 87.5 18.3 100.0 46.3
Coverage ratio 3.0760 2.9240 3.4920 1.8520

*Individual allotments may vary due to rounding.

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