20-Year SGS Bond NZ16100X (27 Jun 2018) Cut-Off Yield 2.86%

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27 Jun 2018

This issue offers investors a cut-off yield of 2.86% p.a., higher than that (2.39% p.a.) of the previous issue, NZ16100X (26 Apr 2017).

The total value of applications in this auction was $3.6B, representing a bid-to-cover ratio of 2.38. This is higher than the $1.7B (bid-to-cover ratio 2.16) received in the previous issue.

Those who submitted non-competitive bids were fully allotted. On the other hand, those who submitted competitive bid at 2.86% get around 42.19% of the amount applied.

Auction Closed

Announcement Date
20 Jun 2018 Notify me
Auction Date
27 Jun 2018 Notify me
Issue Date
02 Jul 2018
Maturity Date
01 Aug 2036
Issue Code
NZ16100X (Reopened)
Issue No
3
ISIN Code
SG31A9000002
Coupon Rate
2.250% p.a.
Coupon Payment Dates
01 Feb and 01 Aug
Cut-Off Yield
2.86% p.a.
Cut-Off Price
92.372
Median Yield
2.82% p.a.
Median Price
92.907
Average Yield
2.73% p.a.
Average Price
94.123
Total Amount Offered
$1,500,000,000
MAS's Intended Tender Amount
$100,000,000
Accrued Interest Payable by Investor
151 Day(s)
Amount Allotted to Non-Competitive Applications
$186,944,000
Amount Allotted to MAS
$100,000,000
Total Amount Applied
$3,565,202,000
% of Competitive Applications at Cut-off Allotted
42.19%
% of Non-Competitive Applications Allotted
100.00%
Bid-to-Cover Ratio
2.38

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