10-Year SGS Bond NZ07100S (24 Feb 2017) Cut-Off Yield 2.35%

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24 Feb 2017

This issue offers investors a cut-off yield of 2.35% p.a., higher than that (2.15% p.a.) of the previous issue, NX16100F (27 May 2016).

The total value of applications in this auction was $3.6B, representing a bid-to-cover ratio of 1.55. This is lower than the $4.3B (bid-to-cover ratio 1.71) received in the previous issue.

Those who submitted non-competitive bids were fully allotted. On the other hand, those who submitted competitive bid at 2.35% get around 13.25% of the amount applied.

Auction Closed

Announcement Date
17 Feb 2017 Notify me
Auction Date
24 Feb 2017 Notify me
Issue Date
01 Mar 2017
Maturity Date
01 Mar 2027
Issue Code
NZ07100S (Reopened)
Issue No
5
ISIN Code
SG7J60932174
Coupon Rate
3.500% p.a.
Coupon Payment Dates
01 Mar and 01 Sep
Cut-Off Yield
2.35% p.a.
Cut-Off Price
110.196
Median Yield
2.28% p.a.
Median Price
110.854
Average Yield
2.27% p.a.
Average Price
110.949
Total Amount Offered
$2,300,000,000
MAS's Intended Tender Amount
$100,000,000
Accrued Interest Payable by Investor
0 Day(s)
Amount Allotted to Non-Competitive Applications
$234,484,000
Amount Allotted to MAS
$100,000,000
Total Amount Applied
$3,570,168,000
% of Competitive Applications at Cut-off Allotted
13.25%
% of Non-Competitive Applications Allotted
100.00%
Bid-to-Cover Ratio
1.55

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