NZ Govt Bond Tender #595; average weighted accepted yield increased slightly to 3.23% (previously 3.13%); coverage ratio rises from 2.2 to 2.76

The New Zealand Debt Management Office has announced the results of NZ Govt Bond tender number 595 held on February 16, 2017.

Tender Date: Thursday, February 16, 2017

Bids close: 2.00pm

Results: From 2.05pm

Settlement Date: Tuesday, February 21, 2017

  Feb 16 – #595 Jan 19 – #592 Nov 17 – #588    Oct 20 –  # 585 Sept 15 – #582
Series Offered 2.75% 15 April 2025 2.75% 15 April 2025 2.75% 15 April 2025 2.75% 15 April 2025 2.75% 15 April 2025
Total Amount offered ($million) 200 200 150 150 150
Total Amount Allocated ($million) 200 200 150 150 150
Total Number of bids Received 39 44 40 60 39
Total Amount of bids Received ($million) 552 440 740 922 480
Total Number of Successful bids 14 22 5 12 18
Highest Yield Accepted (%) 3.2350 3.1400 2.8800 2.5350 2.3850
Lowest Yield Accepted (%) 3.2150 3.1200 2.8700 2.5150 2.3600
Highest Yield Rejected (%) 3.2750 3.1750 2.9550 2.6550 2.4450
Lowest Yield Rejected (%) 3.2350 3.1400 2.8800 2.5350 2.3850
Weighted Average Accepted Yield (%) 3.2252 3.1328 2.8772 2.5225 2.3762
Weighted Average Rejected Yield (%) 3.2494 3.1559 2.9026 2.5618 2.4129
Amount Allotted at Highest Accepted Yield as Percentage of Amount bid at that Yield* 70.6 72.7 87.5 8.4 83.3
Coverage ratio 2.7600 2.2000 4.9333 6.1467 3.2000

*Individual allotments may vary due to rounding.