First bond tender of NZ$100 mln 2033's well received with bids for NZ$370mln; weighted average yield 3.31%

The New Zealand Debt Management Office has announced the results of NZ Govt Bond tender number 563 held on February 25, 2016.

Tender Date: Thursday, February 25, 2016

Bids close: 2.00pm

Results: From 2.05pm

Settlement Date: Tuesday, March 1, 2016

  Feb 25 – #563
Series Offered 3.50% 15 Apr 2033
Total Amount Offered ($million) 100
Total Amount Allocated ($million) 100
Total Number of Bids Received 45
Total Amount of Bids Received ($million) 370
Total Number of Successful Bids 11
Highest Yield Accepted (%) 3.315
Lowest Yield Accepted (%) 3.305
Highest Yield Rejected (%) 3.400
Lowest Yield Rejected (%) 3.315
Weighted Average Accepted Yield (%) 3.3084
Weighted Average Rejected Yield (%) 3.3331
Amount Allotted at Highest Accepted Yield as Percentage of Amount Bid at that Yield* 21.8
Coverage ratio 3.70

*Individual allotments may vary due to rounding.