NZ Govt Bond Tender #663; weighted average yield accepted was 2.48%; coverage ratio was 1.79x

The New Zealand Debt Management Office has announced the results of NZ Govt Bond tender number 663 held on December 14, 2018.

Tender Date: Friday, December 14, 2018

Bids close: 2.00pm

Results: From 2.05pm

Settlement Date: Wednesday, December 19, 2018

  Dec 14 - #663 Nov 9 - #661 Nov 9 - #658 Oct 11 - #654 Sep 13 - #650 Aug 30 - #648
Series Offered 3.00% 20 Apr 2029 3.00% 20 Apr 2029 3.00% 20 Apr 2029 3.00% 20 Apr 2029 3.00% 20 Apr 2029 3.00% 20 Apr 2029
Total Amount Offered ($million) 250 250 250 250 250 250
Total Amount Allocated ($million) 250 250 250 250 250 250
Total Number of Bids Received 43 63 57 85 57 59
Total Amount of Bids Received ($million) 447 722 549 840 769 731
Total Number of Successful Bids 19 11 25 18 15 27
Highest Yield Accepted (%) 2.4900 2.6000 2.8300 2.6300 2.5750 2.5800
Lowest Yield Accepted (%) 2.4750 2.5900 2.7950 2.6150 2.5600 2.5500
Highest Yield Rejected (%) 2.6000 2.6800 2.9400 2.6900 2.6300 2.6500
Lowest Yield Rejected (%) 2.4900 2.6000 2.8300 2.6300 2.5750 2.5800
Weighted Average Accepted Yield (%) 2.4828 2.5990 2.8179 2.6270 2.5711 2.5676
Weighted Average Rejected Yield (%) 2.5084 2.6171 2.8534 2.6453 2.5891 2.6036
Amount Allotted at Highest Accepted Yield as Percentage of Amount Bid at that Yield* 61.2 69.3 80.0 65.3 87.5 18.3
Coverage ratio 1.7880 2.8880 2.1960 3.3600 3.0760 2.9240

*Individual allotments may vary due to rounding.

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