NZ Govt Bond Tender #666; weighted average accepted yield was 1.91%; coverage ratio was 4.4x

The New Zealand Debt Management Office has announced the results of NZ Govt Bond tender number 666 held on January 31, 2019.

Tender Date: Thursday, January 31, 2019

Bids close: 2.00pm

Results: From 2.05pm

Settlement Date: Tuesday, February 5, 2019

  Jan 31 - #666 Nov 22 - #660 Oct 25 - #656 Sep 28 - #652 Aug 23 - #647 Jul 26 - #643 Jun 14 - #638   Jan 18 - #624
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 ($million) 200 150 150 150 150 150 200   200
Total Amount Allocated ($million) 200 150 150 150 150 150 200   200
Total Number of bids Received 44 30 39 52 46 44 27   35
Total Amount of bids Received ($million) 871 507 836 722 787 513 435   662
Total Number of Successful bids 11 6 4 4 12 17 13   10
Highest Yield Accepted (%) 1.9150 2.3800 2.1900 2.2400 2.2300 2.4450 2.6200   2.6900
Lowest Yield Accepted (%) 1.9050 2.3750 2.1850 2.2400 2.2200 2.4300 2.5950   2.6800
Highest Yield Rejected (%) 1.9600 2.4300 2.2300 2.3050 2.3000 2.4900 2.6500   2.7400
Lowest Yield Rejected (%) 1.9150 2.3800 2.1900 2.2400 2.2300 2.4450 2.6200   2.6900
Weighted Average Accepted Yield (%) 1.9118 2.3793 2.1883 2.2400 2.2253 2.4386 2.6042   2.6875
Weighted Average Rejected Yield (%) 1.9290 2.3922 2.2073 2.2652 2.2426 2.4604 2.6311   2.7089
Amount Allotted at Highest Accepted Yield as Percentage of Amount bid at that Yield* 81.5 59.5 74.1 85.7 15.4 9.3 7.1   78.9
Coverage ratio 4.3550 3.3800 5.5733 4.8133 5.2467 3.4200 2.1750   3.3100

*Individual allotments may vary due to rounding.

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