Latest bond tender of NZ$200 mln 2027's received bids for NZ$677 mln; 2 successful bids out of 49; weighted average yield accepted 3.38% down 49bps

The New Zealand Debt Management Office has announced the results of NZ Govt Bond tender number 545 held on July 9, 2015.

Tender Date: Thursday, July 9, 2015

Bids close: 2.00pm

Results: From 2.05pm

Settlement Date: Tuesday, July 14, 2015

  Jul 9- #545 Jun 12 – #544 May 14 – #542 Apr 9 – #540 Apr 9 – #539 Mar 13 – #537
Series Offered 4.50% 15 Apr 2027 4.50% 15 Apr 2027 4.50% 15 Apr 2027 4.50% 15 Apr 2027 4.50% 15 Apr 2027 4.50% 15 Apr 2027
Total Amount Offered ($million) 200 300 300 200 200 300
Total Amount Allocated ($million) 200 300 300 200 200 300
Total Number of Bids Received 49 136 81 101 78 69
Total Amount of Bids Received ($million) 677 1,123 660 857 487 631
Total Number of Successful Bids 2 32 51 8 24 50
Highest Yield Accepted (%) 3.385 3.890 3.790 3.340 3.370 3.500
Lowest Yield Accepted (%) 3.375 3.850 3.710 3.320 3.340 3.450
Highest Yield Rejected (%) 3.500 4.095 4.415 3.495 3.500 3.600
Lowest Yield Rejected (%) 3.395 3.890 3.790 3.340 3.370 3.500
Weighted Average Accepted Yield (%) 3.3800 3.8702 3.7542 3.3364 3.3535 3.4790
Weighted Average Rejected Yield (%) 3.4236 3.9384 3.9738 3.3815 3.4109 3.5362
Amount Allotted at Highest Accepted Yield as Percentage of Amount Bid at that Yield* 100 46.2 28.9 80.6 44.4 25.5
Coverage ratio 3.385 3.743 2.20 4.285 2.435 2.1033

*Individual allotments may vary due to rounding.