Latest bond tender of NZ$200 mln 2020's received bids for NZ$1.06 bln; massively over-subscribed and 4 lucky bidders scoop the pool; weighted average yield accepted was 2.73%

The New Zealand Debt Management Office has announced the results of NZ Govt Bond tender number 547 held on July 24, 2015.

Tender Date: Friday, July 24, 2015

Bids close: 2.00pm

Results: From 2.05pm

Settlement Date: Wednesday, July 29, 2015

  Jul 24 – #547
Series Offered 3.00% 15 Apr 2020
Total Amount Offered ($million) 200
Total Amount Allocated ($million) 200
Total Number of Bids Received 45
Total Amount of Bids Received ($million) 1,056
Total Number of Successful Bids 4
Highest Yield Accepted (%) 2.730
Lowest Yield Accepted (%) 2.725
Highest Yield Rejected (%) 2.820
Lowest Yield Rejected (%) 2.735
Weighted Average Accepted Yield (%) 2.7287
Weighted Average Rejected Yield (%) 2.7583
Amount Allotted at Highest Accepted Yield as Percentage of Amount Bid at that Yield* 100
Coverage ratio 5.280

*Individual allotments may vary due to rounding.