NZ Govt Bond Tender #620; weighted average yield accepted down to 2.67% and coverage ratio slightly down to 2.62x

The New Zealand Debt Management Office has announced the results of NZ Govt Bond tender number 620 held on November 15, 2017.

Tender Date: Thursday, November 15, 2017

Bids close: 2.00pm

Results: From 2.05pm

Settlement Date: Tuesday, November 21, 2017

  Nov 15 - #620 Oct 19 - #617 Sep 21 - #615 Aug 17 - #612 Jul 20 - #609 Jun 15 - #606 May 18 - #603   Nov 17 - #582
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) 200 200 200

200

200 150 150   150
Total Amount Allocated ($million) 200 200 200 200 200 150 150   150
Total Number of bids Received 33 43 41 32 36 44 30   40
Total Amount of bids Received ($million) 523 532 638 410 400 643 512   740
Total Number of Successful bids 15 20 12 20 15 14 1   5
Highest Yield Accepted (%) 2.6800 2.7650 2.9150 2.7100 2.8300 2.6300 2.6950   2.8800
Lowest Yield Accepted (%) 2.6550 2.7400 2.8950 2.6900 2.8050 2.6150 2.6950   2.8700
Highest Yield Rejected (%) 2.7450 2.8300 2.9950 2.7800 2.9300 2.7100 2.7600   2.9550
Lowest Yield Rejected (%) 2.6850 2.7650 2.9150 2.7150 2.8300 2.6300 2.7000   2.8800
Weighted Average Accepted Yield (%) 2.6711 2.7545 2.9072 2.7020 2.8190 2.6222 2.6950   2.8772
Weighted Average Rejected Yield (%) 2.7056 2.7942 2.9392 2.7418 2.8576 2.6627 2.7256   2.9026
Amount Allotted at Highest Accepted Yield as Percentage of Amount bid at that Yield* 100.0 76.9 52.4 100.0 90.0 27.8 100.0   87.5
Coverage ratio 2.6150 2.6600 3.1900 2.0500 2.0000 4.2867 3.4133   4.9333

*Individual allotments may vary due to rounding.

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