Latest bond tender of NZ$200 mln 2020's received bids for NZ$600 mln; over-subscribed and yield marginally lower; weighted average yield accepted was 2.67% (vs 2.73% last tender)

The New Zealand Debt Management Office has announced the results of NZ Govt Bond tender number 550 held on August 27, 2015.

Tender Date: Thursday, August 27, 2015

Bids close: 2.00pm

Results: From 2.05pm

Settlement Date: Tuesday, September 1, 2015

  Today Aug 27 – #550 Previous Jul 24 – #547
Series Offered 3.00% 15 Apr 2020 3.00% 15 Apr 2020
Total Amount Offered ($million) 200 200
Total Amount Allocated ($million) 200 200
Total Number of Bids Received 36 45
Total Amount of Bids Received ($million) 600 1,056
Total Number of Successful Bids 9 4
Highest Yield Accepted (%) 2.675 2.730
Lowest Yield Accepted (%) 2.660 2.725
Highest Yield Rejected (%) 2.760 2.820
Lowest Yield Rejected (%) 2.675 2.735
Weighted Average Accepted Yield (%) 2.6671 2.7287
Weighted Average Rejected Yield (%) 2.7009 2.7583
Amount Allotted at Highest Accepted Yield as Percentage of Amount Bid at that Yield* 50 100
Coverage ratio 3 5.280

*Individual allotments may vary due to rounding.