Latest bond tender of NZ$300 mln 2027's received bids for NZ$660 mln; weighted average yield accepted jumps 40 bps

The New Zealand Debt Management Office has announced the results of NZ Govt Bond tender number 542 held on May 14, 2015.

Tender Date: Thursday, May 14, 2015

Bids close: 2.00pm

Results: From 2.05pm

Settlement Date: Tuesday May 19, 2015

  May 14 – #542 Apr 9 – #540 Apr 9 – #539 Mar 13 – #537 Feb 15 – #535 Dec 14 – #531
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 ($million) 300 200 200 300 300 300
Total Amount Allocated ($million) 300 200 200 300 300 300
Total Number of Bids Received 81 101 78 69 54 77
Total Amount of Bids Received ($million) 660 857 487 631 638 1,293
Total Number of Successful Bids 51 8 24 50 13 26
Highest Yield Accepted (%) 3.790 3.340 3.370 3.500 3.420 3.950
Lowest Yield Accepted (%) 3.710 3.320 3.340 3.450 3.335 3.920
Highest Yield Rejected (%) 4.415 3.495 3.500 3.600 3.580 4.015
Lowest Yield Rejected (%) 3.790 3.340 3.370 3.500 3.420 3.950
Weighted Average Accepted Yield (%) 3.7542 3.3364 3.3535 3.4790 3.3536 3.9363
Weighted Average Rejected Yield (%) 3.9738 3.3815 3.4109 3.5362 3.4457 3.9750
Amount Allotted at Highest Accepted Yield as Percentage of Amount Bid at that Yield* 28.9 80.6 44.4 25.5 26.2 12.3
Coverage ratio 2.20 4.285 2.435 2.1033 2.127 4.310

*Individual allotments may vary due to rounding.