NZ Govt Bond Tender #616; weighted average yield accepted rises to 3.31% and coverage ratio rises to 3.33x

The New Zealand Debt Management Office has announced the results of NZ Govt Bond tender number 616 held on September 29, 2017.

Tender Date: Friday, September 29, 2017

Bids close: 2.00pm

Results: From 2.05pm

Settlement Date: Wednesday, October 4, 2017

   Sep 29 – #616 Aug 24 – #613 Jul 27 – #610 Nov 24 – #589 Oct 27 – #586 Sep 23 – #583 Jul 28 – #578 Jun 23 – #575 May 27 – #572
Series Offered 3.50% 14 April 2033 3.50% 14 April 2033 3.50% 14 April 2033 3.50% 14 Apr 2033 3.50% 14 Apr 2033 3.50% 14 Apr 2033 3.50% 14 Apr 2033 3.50% 14 Apr 2033 3.50% 14 Apr 2033
Total Amount Offered ($million)

150

150

150

150 150 150 150 150 150
Total Amount Allocated ($million) 150 150 150 150 150 150 150 150 150
Total Number of Bids Received 44 41 46 48 56 57 42 58 53
Total Amount of Bids Received ($million) 500 335 405 496 557 811 348 284 701
Total Number of Successful Bids 13 20 21 19 21 10 13 26 6
Highest Yield Accepted (%) 3.3050 3.3000 3.3100 3.560 2.995 2.760 2.570 2.950 2.885
Lowest Yield Accepted (%) 3.2900 3.2750 3.2850 3.540 2.965 2.735 2.540 2.905 2.880
Highest Yield Rejected (%) 3.3800 3.3700 3.4000 3.600 3.090 2.820 2.645 3.095 3.010
Lowest Yield Rejected (%) 3.3050 3.3000 3.3100 3.560 2.995 2.760 2.575 2.950 2.885
Weighted Average Accepted Yield (%) 3.2958 3.2883 3.2996 3.5517 2.9843 2.7503 2.5630 2.9270 2.8822
Weighted Average Rejected Yield (%) 3.3390 3.3266 3.3453 3.5789 3.0150 2.7794 2.5990 2.9820 2.9257
Amount Allotted at Highest Accepted Yield as Percentage of Amount Bid at that Yield* 20.0 44.4 96.8 35.6 22.2 31.9 100 46.5 65
Coverage ratio 3.3333 2.2333 2.7000 3.3067 3.7133 5.4067 2.3200 1.8930 4.6733

*Individual allotments may vary due to rounding.