The New Zealand Debt Management Office has announced the results of NZ Govt Bond tender number 902 held on May 2, 2024.
Tender Date: Thursday, May 7, 2024.
Bids close: 2.30pm
Results: From 2.35pm
Settlement Date: Tuesday, 23 Apr 2024
(1) Nominal Bonds - Series Offered : 4.50% 15 May 2030
| May 2 #902 | Apr 18 #900 | Feb 1 #891 | Dec 14 #888 | |
| Series Offered : 4.50% 15 May 2030 | ||||
| Total Amount Offered ($million) | 250 | 275 | 200 | 200 |
| Total Amount Allocated ($million) | 250 | 275 | 200 | 200 |
| Total Number of Bids Received | 27 | 28 | 34 | 49 |
| Total Amount of Bids Received ($million) | 635 | 695 | 393 | 707 |
| Total Number of Successful Bids | 6 | 11 | 19 | 12 |
| Highest Yield Accepted (%) | 4.7050 | 4.7325 | 4.4400 | 4.4525 |
| Lowest Yield Accepted (%) | 4.6950 | 4.7200 | 4.3525 | 4.4400 |
| Highest Yield Rejected (%) | 4.7525 | 4.7925 | 4.4450 | 4.5175 |
| Lowest Yield Rejected (%) | 4.7050 | 4.7325 | 4.4000 | 4.4525 |
| Weighted Average Accepted Yield (%) | 4.7031 | 4.7271 | 4.3768 | 4.4454 |
| Weighted Average Rejected Yield (%) | 4.7200 | 4.7451 | 4.4173 | 4.4709 |
| Amount Allotted at Highest Accepted Yield as Percentage of Amount Bid at that Yield* | 63.00 | 70.60 | ||
| Coverage ratio | 2.54 | 2.53 | 1.57 | 3.53 |
(2) Series Offered : 3.50% 14 Apr 2033
| May 2 #902 | Mar 21 #897 | Feb 8 #892 | Feb 1 #891 | |
| Series Offered : 3.50% 14 Apr 2033 | ||||
| Total Amount Offered ($million) | 250 | 250 | 150 | 175 |
| Total Amount Allocated ($million) | 250 | 250 | 150 | 175 |
| Total Number of Bids Received | 39 | 32 | 40 | 25 |
| Total Amount of Bids Received ($million) | 743 | 525 | 424 | 231 |
| Total Number of Successful Bids | 16 | 21 | 23 | 14 |
| Highest Yield Accepted (%) | 4.8350 | 4.5100 | 4.7550 | 4.5425 |
| Lowest Yield Accepted (%) | 4.8150 | 4.4850 | 4.7150 | 4.4875 |
| Highest Yield Rejected (%) | 4.8775 | 4.5425 | 4.8050 | 4.5775 |
| Lowest Yield Rejected (%) | 4.8350 | 4.5100 | 4.7550 | 4.5475 |
| Weighted Average Accepted Yield (%) | 4.8258 | 4.4996 | 4.7454 | 4.5127 |
| Weighted Average Rejected Yield (%) | 4.8464 | 4.5321 | 4.7717 | 4.5593 |
| Amount Allotted at Highest Accepted Yield as Percentage of Amount Bid at that Yield* | 27.80 | 64.70 | ||
| Coverage ratio | 2.97 | 2.10 | 2.82 | 1.32 |
*Individual allotments may vary due to rounding.
1 Comments
Not such a good look, ay?
Hooton says, "Between now and the next election, Willis has another $15.1b of bonds maturing at 2.75 per cent, $4b at 2 per cent and $9.3b at 0.5 per cent."
Ouch.
Now if the government had raised tax to tackle inflation - rather than the RBNZ raising the OCR and shoveling billions overseas in bank profits & interest payments - we'd be in a completely different boat. (Think Split Enz wrote a song about that one...)
From Nov 2022. .... UK should bring forward tax rises to fight inflation, IMF says
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