NZ Govt Bond Tender #670; weighted average accepted yield was 1.81%; coverage ratio was 3.5x

NZ Govt Bond Tender #670; weighted average accepted yield was 1.81%; coverage ratio was 3.5x

The New Zealand Debt Management Office has announced the results of NZ Govt Bond tender number 670 held on February 28, 2019.

Tender Date: Thursday, February 28, 2019

Bids close: 2.00pm

Results: From 2.05pm

Settlement Date: Tuesday, March 5, 2019

  Feb 28 - #670 Jan 31 - #666 Nov 22 - #660 Oct 25 - #656 Sep 28 - #652 Aug 23 - #647 Jul 26 - #643   Feb 18 - #627
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 ($million) 200 200 150 150 150 150 150   200
Total Amount Allocated ($million) 200 200 150 150 150 150 150   200
Total Number of bids Received 37 44 30 39 52 46 44   40
Total Amount of bids Received ($million) 697 871 507 836 722 787 513   557
Total Number of Successful bids 19 11 6 4 4 12 17   12
Highest Yield Accepted (%) 1.8200 1.9150 2.3800 2.1900 2.2400 2.2300 2.4450   2.7800
Lowest Yield Accepted (%) 1.7950 1.9050 2.3750 2.1850 2.2400 2.2200 2.4300   2.7600
Highest Yield Rejected (%) 1.8700 1.9600 2.4300 2.2300 2.3050 2.3000 2.4900   2.8750
Lowest Yield Rejected (%) 1.8200 1.9150 2.3800 2.1900 2.2400 2.2300 2.4450   2.7800
Weighted Average Accepted Yield (%) 1.8098 1.9118 2.3793 2.1883 2.2400 2.2253 2.4386   2.7719
Weighted Average Rejected Yield (%) 1.8399 1.9290 2.3922 2.2073 2.2652 2.2426 2.4604   2.8046
Amount Allotted at Highest Accepted Yield as Percentage of Amount bid at that Yield* 29.5 81.5 59.5 74.1 85.7 15.4 9.3   73.7
Coverage ratio 3.4850 4.3550 3.3800 5.5733 4.8133 5.2467 3.4200   2.7850

*Individual allotments may vary due to rounding.

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