NZ Govt Bond Tender #597; average weighted accepted yield increased slightly to 3.13% (previously 3.23%); coverage ratio rises from 2.76 to 7.13

The New Zealand Debt Management Office has announced the results of NZ Govt Bond tender number 597 held on March 16, 2017.

Tender Date: Thursday, March 16, 2017

Bids close: 2.00pm

Results: From 2.05pm

Settlement Date: Tuesday, March 21, 2017

  Mar 16 – #597 Feb 16 – #595 Jan 19 – #592 Nov 17 – #588    Oct 20 –  # 585
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 ($million) 200 200 200 150 150
Total Amount Allocated ($million) 200 200 200 150 150
Total Number of bids Received 56 39 44 40 60
Total Amount of bids Received ($million) 1425 552 440 740 922
Total Number of Successful bids 9 14 22 5 12
Highest Yield Accepted (%) 3.1350 3.2350 3.1400 2.8800 2.5350
Lowest Yield Accepted (%) 3.1200 3.2150 3.1200 2.8700 2.5150
Highest Yield Rejected (%) 3.2050 3.2750 3.1750 2.9550 2.6550
Lowest Yield Rejected (%) 3.1350 3.2350 3.1400 2.8800 2.5350
Weighted Average Accepted Yield (%) 3.1301 3.2252 3.1328 2.8772 2.5225
Weighted Average Rejected Yield (%) 3.1596 3.2494 3.1559 2.9026 2.5618
Amount Allotted at Highest Accepted Yield as Percentage of Amount bid at that Yield* 58.3 70.6 72.7 87.5 8.4
Coverage ratio 7.1250 2.7600 2.2000 4.9333 6.1467

*Individual allotments may vary due to rounding.