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NZ Govt Bond Tender #646; weighted average accepted yield was 2.89%; coverage ratio was 2.47x

Bonds
NZ Govt Bond Tender #646; weighted average accepted yield was 2.89%; coverage ratio was 2.47x

The New Zealand Debt Management Office has announced the results of NZ Govt Bond tender number 646 held on August 16, 2018.

Tender Date: Thursday, August 16, 2018

Bids close: 2.00pm

Results: From 2.05pm

Settlement Date: Tuesday, August 21, 2018

  Aug 16 - #646 Jul 19 - #642 Jun 21 - #639 May 31 - #636 Apr 19 - #633 Jun 23 - #607
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
Total Amount Offered ($million) 150 150 200 200 200 150
Total Amount Allocated ($million) 150 150 200 200 200 150
Total Number of Bids Received 47 65 30 53 57 51
Total Amount of Bids Received ($million) 371 686 232 490 529 502
Total Number of Successful Bids 18 7 27 22 19 19
Highest Yield Accepted (%) 2.8950 3.1750 3.3000 3.2550 3.4000 3.2850
Lowest Yield Accepted (%) 2.8700 3.1700 3.2350 3.2250 3.3850 3.2650
Highest Yield Rejected (%) 2.9800 3.2500 3.3250 3.3350 3.4900 3.3550
Lowest Yield Rejected (%) 2.8950 3.1750 3.3000 3.2550 3.4000 3.2850
Weighted Average Accepted Yield (%) 2.8887 3.1730 3.2631 3.2423 3.3918 3.2779
Weighted Average Rejected Yield (%) 2.9141 3.1956 3.3103 3.2842 3.4199 3.3118
Amount Allotted at Highest Accepted Yield as Percentage of Amount Bid at that Yield* 58.5 98.9 60.0 34.5 37.7 58.5
Coverage ratio 2.4733 4.5733 1.1600 2.4500 2.6450 3.3467

*Individual allotments may vary due to rounding.

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