Bonds
Tender 589 of NZ$150 mln 2033's received bids for NZ$496 mln; demand for long-dated bonds remains strong but coverage ratio slips; average weighted yield 3.55% (previously 2.98%)
24th Nov 16, 2:10pm
by
The New Zealand Debt Management Office has announced the results of NZ Govt Bond tender number 589 held on November 24, 2016.
Tender Date: Thursday, November 24, 2016
Bids close: 2.00pm
Results: From 2.05pm
Settlement Date: Tuesday, November 29, 2016
| Nov 24 - #589 | Oct 27 - #586 | Sep 23 - #583 | Jul 28 - #578 | Jun 23 - #575 | May 27 - #572 | |
| Series Offered | 3.50% 14 Apr 2033 | 3.50% 14 Apr 2033 | 3.50% 14 Apr 2033 | 3.50% 14 Apr 2033 | 3.50% 14 Apr 2033 | 3.50% 14 Apr 2033 |
| Total Amount Offered ($million) | 150 | 150 | 150 | 150 | 150 | 150 |
| Total Amount Allocated ($million) | 150 | 150 | 150 | 150 | 150 | 150 |
| Total Number of Bids Received | 48 | 56 | 57 | 42 | 58 | 53 |
| Total Amount of Bids Received ($million) | 496 | 557 | 811 | 348 | 284 | 701 |
| Total Number of Successful Bids | 19 | 21 | 10 | 13 | 26 | 6 |
| Highest Yield Accepted (%) | 3.560 | 2.995 | 2.760 | 2.570 | 2.950 | 2.885 |
| Lowest Yield Accepted (%) | 3.540 | 2.965 | 2.735 | 2.540 | 2.905 | 2.880 |
| Highest Yield Rejected (%) | 3.600 | 3.090 | 2.820 | 2.645 | 3.095 | 3.010 |
| Lowest Yield Rejected (%) | 3.560 | 2.995 | 2.760 | 2.575 | 2.950 | 2.885 |
| Weighted Average Accepted Yield (%) | 3.5517 | 2.9843 | 2.7503 | 2.5630 | 2.9270 | 2.8822 |
| Weighted Average Rejected Yield (%) | 3.5789 | 3.0150 | 2.7794 | 2.5990 | 2.9820 | 2.9257 |
| Amount Allotted at Highest Accepted Yield as Percentage of Amount Bid at that Yield* | 35.6 | 22.2 | 31.9 | 100 | 46.5 | 65 |
| Coverage ratio | 3.3067 | 3.7133 | 5.4067 | 2.3200 | 1.8930 | 4.6733 |
*Individual allotments may vary due to rounding.
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