Tender 17

Announcement

The Australian Office of Financial Management (AOFM) will hold a tender for the repurchase of two outstanding Treasury Bond lines on Wednesday, 27 September 2017. The total tender size will be $700 million, with the volume to be repurchased of each Treasury Bond line subject to a maximum*. Details of the tender are set out below.

Total Tender Size ($million) 700
Series to be Repurchased 5.25% 15 March 2019 2.75% 21 October 2019
Series Number TB122 TB143
ISIN AU300TB01224 AU3TB0000184
Maximum Volume of Series to be repurchased – Subject to Total Tender Size ($million) 600 600
First Coupon Payment Due 15 March 2018 21 October 2017
First Coupon Payment Amount (per $100 face value) $2.625 $1.375

*If there are insufficient offers at yields the AOFM judges to be acceptable, a lower amount of Treasury Bonds may be repurchased.

Lodgment of Offers

Offers may be lodged by Registered Bidders through the AOFM Tender System, which is accessed via the Yieldbroker DEBTS System, between 9.45 am and 10.00 am Australian Eastern Standard Time on Wednesday, 27 September 2017.

All offers must comply with the Information Memorandum for Treasury Bonds [PDF 792KB | RTF 1.215MB] dated 27 July 2016.

Announcement of Results

The results of the tender are expected to be announced as soon as practicable after the closing time for the lodgment of offers.

Settlement Arrangements

Successful offers for Treasury Bonds repurchased in the tender must be settled in the Austraclear System on Friday, 29 September 2017.

Last updated: 15 March 2018

Results

Auction Summary
Tender Size ($m) 700
Offers Accepted ($m) 700
Offers Received ($m) 2,820
Coverage Ratio 4.0286
Treasury Bonds Purchased
Series Repurchased 5.25% 15 March 2019 2.75% 21 October 2019
Series ID TB122 TB143
ISIN AU300TB01224 AU3TB0000184
Offers Accepted ($m) 296 404
Weighted Average Accepted Yield (%) 1.8099 1.9464
Lowest Yield Accepted (%) 1.8050 1.9425
Highest Yield Accepted (%) 1.8100 1.9600
Total Amount of All Offers Received ($m) 936 1,884
Total Number of Offers 13 30
Total Number of Successful Offers 3 8
Number of Offers Accepted in Full 1 5
Best Offer (%) 1.8100 1.9600
Worst Offer (%) 1.7500 1.9275
Weighted Average Offer (%) 1.7962 1.9379
Amount Repurchased at Lowest Accepted Yield as Percentage of Amount Offered at that Yield* 24 27.9

Last updated: 15 March 2018