September 2035 Government inflation linked tender sees average yield drop 37bps from previous tender; again only 1 in 3 bids accepted

The results from the latest inflation indexed bond offer by the Treasury’s Debt Management Office have been released.

2.50% – 20 September 2035 Today #546 Previous #543 Previous #543 Previous #538 Previous #534
Series offered tender
July 16, 2015
tender
June 4, 2015
tender
May 7, 2015
tender
April 2, 2015
tender
February 5, 2015
Total Amount Offered ($million) 100 100 100 100 100
Total Amount Allocated ($million) 100 100 0 100 100
Total Number of Bids Received 60 99 20 33 42
Total Amount of Bids Received ($million) 218 297 107 175 207
Total Number of Successful Bids 20 27 0 18 21
Highest Yield Accepted (%) 2.250 2.610 0.000 1.880 1.800
Lowest Yield Accepted (%) 2.200 2.570 0.000 1.850 1.750
Highest Yield Rejected (%) 2.420 2.810 2.500 1.990 2.020
Lowest Yield Rejected (%) 2.250 2.610 2.100 1.880 1.800
Weighted Average Accepted Yield (%) 2.2281 2.5985 0.0000 1.8691 1.7868
Weighted Average Rejected Yield (%) 2.3086 2.6550 2.2304 1.9089 1.8286
Amount Allotted at Highest Accepted Yield
as Percentage of Amount Bid at that Yield*
66.7 58.8 0.00 97.5 60
Coverage Ratio 2.18 2.97 1.07 1.75 2.07

*Individual allotments may vary due to rounding.