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NZ Govt Bond Tender #902; Tender Date 2 May 2024

Bonds / news
NZ Govt Bond Tender #902; Tender Date 2 May 2024
NZ Treasury building

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.

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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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