NZ Govt Bond Tender #630; weighted average accepted yield down to 3.14%; coverage ratio down to 2.4x

The New Zealand Debt Management Office has announced the results of NZ Govt Bond tender number 630 held on March 29, 2018.

Tender Date: Thursday, March 29, 2018

Bids close: 2.00pm

Results: From 2.05pm

Settlement Date: Thursday, April 5, 2018

  Mar 29 – #630 Feb 22 – #628 Jan 25 – #625 Nov 23 – #621 Oct 26 – #618  Sep 29 – #616 Aug 24 – #613 Jul 27 – #610 Nov 24 – #589
Series Offered 3.50% 14 April 2033 3.50% 14 April 2033 3.50% 14 April 2033 3.50% 14 April 2033 3.50% 14 April 2033 3.50% 14 April 2033 3.50% 14 April 2033 3.50% 14 April 2033 3.50% 14 Apr 2033
Total Amount Offered ($million) 150 150

150

150 150

150

150

150

150
Total Amount Allocated ($million) 150 150 150 150 150 150 150 150 150
Total Number of Bids Received 40 46 46 46 53 44 41 46 48
Total Amount of Bids Received ($million) 361 477 457 372 429 500 335 405 496
Total Number of Successful Bids 19 8 15 18 23 13 20 21 19
Highest Yield Accepted (%) 3.1450 3.3450 3.2600 3.1400 3.3800 3.3050 3.3000 3.3100 3.560
Lowest Yield Accepted (%) 3.1250 3.3350 3.2500 3.1250 3.3500 3.2900 3.2750 3.2850 3.540
Highest Yield Rejected (%) 3.2850 3.4300 3.3300 3.2100 3.4500 3.3800 3.3700 3.4000 3.600
Lowest Yield Rejected (%) 3.1450 3.3450 3.2600 3.1400 3.3800 3.3050 3.3000 3.3100 3.560
Weighted Average Accepted Yield (%) 3.1375 3.3421 3.2576 3.1338 3.3655 3.2958 3.2883 3.2996 3.5517
Weighted Average Rejected Yield (%) 3.1750 3.3640 3.2834 3.1610 3.4142 3.3390 3.3266 3.3453 3.5789
Amount Allotted at Highest Accepted Yield as Percentage of Amount Bid at that Yield* 41.8 56.6 92.6 60.6 36.4 20.0 44.4 96.8 35.6
Coverage ratio 2.4067 3.1800 3.0467 2.4800 2.8600 3.3333 2.2333 2.7000 3.3067

*Individual allotments may vary due to rounding.