NZ Govt Bond Tender #627; weighted average accepted yield rises to 2.77%; coverage ratio lower at 2.8x

The New Zealand Debt Management Office has announced the results of NZ Govt Bond tender number 627 held on February 15, 2018.

Tender Date: Thursday, February 15, 2018

Bids close: 2.00pm

Results: From 2.05pm

Settlement Date: Tuesday, February 20, 2018

  Feb 15 – #627 Jan 18 – #624 Dec 15 – #623 Nov 15 – #620 Oct 19 – #617 Sep 21 – #615 Aug 17 – #612   Feb 16 – #595
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 2.75% 15 April 2025 2.75% 15 April 2025   2.75% 15 April 2025
Total Amount offered ($million) 200 200 200 200 200 200

200

  200
Total Amount Allocated ($million) 200 200 200 200 200 200 200   200
Total Number of bids Received 40 35 44 33 43 41 32   39
Total Amount of bids Received ($million) 557 662 772 523 532 638 410   552
Total Number of Successful bids 12 10 11 15 20 12 20   14
Highest Yield Accepted (%) 2.7800 2.6900 2.5700 2.6800 2.7650 2.9150 2.7100   3.2350
Lowest Yield Accepted (%) 2.7600 2.6800 2.5500 2.6550 2.7400 2.8950 2.6900   3.2150
Highest Yield Rejected (%) 2.8750 2.7400 2.6400 2.7450 2.8300 2.9950 2.7800   3.2750
Lowest Yield Rejected (%) 2.7800 2.6900 2.5700 2.6850 2.7650 2.9150 2.7150   3.2350
Weighted Average Accepted Yield (%) 2.7719 2.6875 2.5601 2.6711 2.7545 2.9072 2.7020   3.2252
Weighted Average Rejected Yield (%) 2.8046 2.7089 2.5902 2.7056 2.7942 2.9392 2.7418   3.2494
Amount Allotted at Highest Accepted Yield as Percentage of Amount bid at that Yield* 73.7 78.9 5.2 100.0 76.9 52.4 100.0   70.6
Coverage ratio 2.7850 3.3100 3.8600 2.6150 2.6600 3.1900 2.0500   2.7600

*Individual allotments may vary due to rounding.

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