Bonds
NZ Govt Bond Tender #585; spike in yield and coverage ratio; $922 mln worth of bids received; average weighted accepted yield 2.52% (previously 2.38%)
20th Oct 16, 2:19pm
by
The New Zealand Debt Management Office has announced the results of NZ Govt Bond tender number 585 held on October 20, 2016.
Tender Date: Thursday, October 20, 2016
Bids close: 2.00pm
Results: From 2.05pm
Settlement Date: Tuesday, October 25, 2016
| Oct 20 - # 585 | Sept 15 - #582 | Aug 18 - #580 | July 21 - #577 | |
| Series Offered | 2.75% 15 April 2025 | 2.75% 15 April 2025 | 2.75% 15 April 2025 | 2.75% 15 April 2025 |
| Total Amount offered ($million) | 150 | 150 | 150 | 150 |
| Total Amount Allocated ($million) | 150 | 150 | 150 | 150 |
| Total Number of bids Received | 60 | 39 | 56 | 37 |
| Total Amount of bids Received ($million) | 922 | 480 | 720 | 394 |
| Total Number of Successful bids | 12 | 18 | 14 | 14 |
| Highest Yield Accepted (%) | 2.5350 | 2.3850 | 2.0500 | 2.1400 |
| Lowest Yield Accepted (%) | 2.5150 | 2.3600 | 2.0300 | 2.1050 |
| Highest Yield Rejected (%) | 2.6550 | 2.4450 | 2.1100 | 2.2250 |
| Lowest Yield Rejected (%) | 2.5350 | 2.3850 | 2.0500 | 2.1400 |
| Weighted Average Accepted Yield (%) | 2.5225 | 2.3762 | 2.0408 | 2.1243 |
| Weighted Average Rejected Yield (%) | 2.5618 | 2.4129 | 2.0705 | 2.1663 |
| Amount Allotted at Highest Accepted Yield as Percentage of Amount bid at that Yield* | 8.4 | 83.3 | 30.0 | 83.3 |
| Coverage ratio | 6.1467 | 3.2000 | 4.8000 | 2.6267 |
*Individual allotments may vary due to rounding.
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