LGFA Bond Tender Number 59; weighted average accepted yield was 3.04%; coverage ratio was 1.80x

The LGFA has announced the results of LGFA Bond tender number 59 held on 3 October 2018.

Tender Date: Wednesday, 3 October 2018
Bids close: 2.00pm
Results: From 2.15pm
Settlement Date: Monday, 8 October 2018

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Series 
Offered
2.75% 14 Apr 2022 2.75% 15 Apr 2025 4.50% 15 Apr 2027 3.50% 14 Apr 2033 2.75% 14 Apr 2022 2.75% 15 Apr 2025 4.50% 15 Apr 2027 3.50% 14 Apr 2033 2.75% 14 Apr 2022 2.75% 15 Apr 2025 4.50% 15 Apr 2027 3.50% 14 Apr 2033
Total Amount Offered ($million) 70 50 40 50 50 50 40 70 30 40 30 75
Total Amount Allocated ($million) 70 50 40 50 50 50 20 90 30 40 30 75
Total Number of Bids Received 9 17 16 12 16 18 8 27 13 21 17 24
Total Amount of Bids Received ($million) 126 94 107 50 157 165 20 140 80 141 83 209
Total Number of Successful Bids 2 10 4 12 5 8 8 16 8 6 7 4
Highest Yield Accepted (%) 2.380 2.965 3.265 3.915 2.420 2.985 3.270 3.840 2.670 3.270 3.500 4.080
Lowest Yield Accepted (%) 2.380 2.935 3.260 3.855 2.410 2.955 3.230 3.785 2.650 3.255 3.465 4.070
Highest Yield Rejected (%) 2.430 2.990 3.330 0.000 2.480 3.030 0.000 3.890 2.745 3.340 3.600 4.180
Lowest Yield Rejected (%) 2.380 2.965 3.265 0.000 2.420 2.985 0.000 3.840 2.670 3.270 3.500 4.080
Weighted Average Accepted Yield (%) 2.3800 2.9536 3.2646 3.8816 2.4127 2.9774 3.2490 3.8274 2.6548 3.2685 3.4851 4.0748
Weighted Average Rejected Yield (%) 2.3928 2.9772 3.2838 0.0000 2.4323 2.9980 0.0000 3.8498 2.6841 3.2865 3.5445 4.1088
Amount Allotted at Highest Accepted Yield as Percentage of Amount Bid at that Yield* 70.0 40.0 56.9 100.0 32.4 71.4 100.0 78.0 16.2 50.7 26.7 96.9
Coverage Ratio 1.8000 1.8800 2.6750 1.0000 3.1400 3.3000 0.5000 2.0000 2.6667 3.5250 2.7733 2.7867

*Individual allotments may vary due to rounding.

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