NZ Govt Bond Tender #660; weighted average accepted yield was 2.38%; coverage ratio was 3.4x

The New Zealand Debt Management Office has announced the results of NZ Govt Bond tender number 660 held on November 22, 2018.

Tender Date: Thursday, November 22, 2018

Bids close: 2.00pm

Results: From 2.05pm

Settlement Date: Tuesday, November 27, 2018

  Nov 22 - #656 Oct 25 - #652 Sep 28 - #652 Aug 23 - #647 Jul 26 - #643 Jun 14 - #638 May 24 - #635   Oct 19 - #617
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 ($million) 150 150 150 150 150 200 200   200
Total Amount Allocated ($million) 150 150 150 150 150 200 200   200
Total Number of bids Received 30 39 52 46 44 27 38   33
Total Amount of bids Received ($million) 507 836 722 787 513 435 797   523
Total Number of Successful bids 6 4 4 12 17 13 13   15
Highest Yield Accepted (%) 2.3800 2.1900 2.2400 2.2300 2.4450 2.6200 2.5650   2.6800
Lowest Yield Accepted (%) 2.3750 2.1850 2.2400 2.2200 2.4300 2.5950 2.5550   2.6550
Highest Yield Rejected (%) 2.4300 2.2300 2.3050 2.3000 2.4900 2.6500 2.6300   2.7450
Lowest Yield Rejected (%) 2.3800 2.1900 2.2400 2.2300 2.4450 2.6200 2.5650   2.6850
Weighted Average Accepted Yield (%) 2.3793 2.1883 2.2400 2.2253 2.4386 2.6042 2.5632   2.6711
Weighted Average Rejected Yield (%) 2.3922 2.2073 2.2652 2.2426 2.4604 2.6311 2.5741   2.7056
Amount Allotted at Highest Accepted Yield as Percentage of Amount bid at that Yield* 59.5 74.1 85.7 15.4 9.3 7.1 41.6   100.0
Coverage ratio 3.3800 5.5733 4.8133 5.2467 3.4200 2.1750 3.9850   2.6150

*Individual allotments may vary due to rounding.

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