NZ Govt Bond Tender #677; weighted average accepted yield was 2.34%; coverage ratio was 2.49x

NZ Govt Bond Tender #677; weighted average accepted yield was 2.34%; coverage ratio was 2.49x

The New Zealand Debt Management Office has announced the results of NZ Govt Bond tender number 677 held on April 18, 2019.

Tender Date: Thursday, April 18, 2019

Bids close: 2.00pm

Results: From 2.05pm

Settlement Date: Tuesday, April 23, 2019

  Apr 18 - #677 Mar 21 - #673 Feb 21 - #669 Jan 24 - #665 Nov 15 - #659 Oct 18 - #655   Apr 19 - #633
Series Offered 2.75% 15 Apr 2037 2.75% 15 Apr 2037 2.75% 15 Apr 2037 2.75% 15 Apr 2037 2.75% 15 Apr 2037 2.75% 15 Apr 2037   2.75% 15 Apr 2037
Total Amount Offered ($million) 150 200 200

200

150 150   200
Total Amount Allocated ($million) 150 200 200 200 150 150   200
Total Number of Bids Received 47 53 70 28 47 46   57
Total Amount of Bids Received ($million) 373 498 576 236 428 526   529
Total Number of Successful Bids 6 21 18 22 19 14   19
Highest Yield Accepted (%) 2.3450 2.3850 2.6150 2.7400 3.0750 3.0100   3.4000
Lowest Yield Accepted (%) 2.3400 2.3700 2.5950 2.6750 3.0600 2.9900   3.3850
Highest Yield Rejected (%) 2.4450 2.4800 2.7000 2.8100 3.1500 3.0800   3.4900
Lowest Yield Rejected (%) 2.3450 2.3850 2.6150 2.7400 3.0750 3.0100   3.4000
Weighted Average Accepted Yield (%) 2.3423 2.3779 2.6079 2.6998 3.0687 3.0041   3.3918
Weighted Average Rejected Yield (%) 2.3763 2.4029 2.6370 2.7775 3.0892 3.0239   3.4199
Amount Allotted at Highest Accepted Yield as Percentage of Amount Bid at that Yield* 78.7 27.3 86.7 64.7 35.4 39.1   37.7
Coverage ratio 2.4867 2.4900 2.8800 1.1800 2.8533 3.5067   2.6450

*Individual allotments may vary due to rounding.

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