Bonds
Latest bond tender of NZ$200 mln received bids for $251 mln with weighted average accepted yield of 2.6314% (versus 2.8293% previously)
3rd Oct 13, 2:12pm
by
The New Zealand Debt Management Office (NZDMO) auctioned $200 million 20 September 2025 inflation-indexed New Zealand Government bonds with a successful weighted average yield of 2.6314%.
Inflation is currently running at approximately 0.7% which would mean a nominal yield of 3.3314%.
By comparison the yield on 10-year NZ government stock (maturing 2023) which is not inflation adjusted is trading at approximately 4.58% p.a. (previously 4.69%)
This latest tender was also over-subscribed with a coverage ratio of 1.255 times.
| Current | Previous | |
| Series Offered | 2.00% 20 Sept 2025 | 2.00% 20 Sept 2025 |
| Total Amount Offered ($million) | 200 | 300 |
| Total Amount Allocated ($million) | 200 | 300 |
| Total Number of Bids Received | 51 | 70 |
| Total Amount of Bids Received ($million) | 251 | 703 |
| Total Number of Successful Bids | 40 | 27 |
| Highest Yield Accepted (%) | 2.700 | 2.860 |
| Lowest Yield Accepted (%) | 2.590 | 2.800 |
| Highest Yield Rejected (%) | 2.890 | 3.250 |
| Lowest Yield Rejected (%) | 2.700 | 2.860 |
| Weighted Average Accepted Yield (%) | 2.6314 | 2.8293 |
| Weighted Average Rejected Yield (%) | 2.7369 | 2.9550 |
| Amount Allotted at Highest Accepted Yield as Percentage of Amount Bid at that Yield* | 90 | 27 |
| Coverage Ratio | 1.2550 | 2.3433 |
*Individual allotments may vary due to rounding.
Tender Date: Thu, 3 October 2013
Settlement Date: Tue, 8 October 2013
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