Tender 18

Announcement

The Australian Office of Financial Management (AOFM) will hold a tender for the repurchase of two outstanding Treasury Bond lines on Wednesday, 11 October 2017. The total tender size will be $900 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 ($million) 900
Series to be Repurchased 3.25% 21 October 2018 2.75% 21 October 2019
Series Number TB141 TB143
ISIN AU3TB0000176 AU3TB0000184
Maximum Volume of Series to be repurchased – Subject to Total Tender Size ($million) 800 800
First Coupon Payment Due* 21 October 2017 21 October 2017
First Coupon Payment Amount (per $100 face value) $1.625 $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 Daylight Time on Wednesday, 11 October 2017.

All offers must comply with the Information Memorandum for Treasury Bonds [PDF 792KB | RTF 1.215MB] dated 3 October 2017.

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, 13 October 2017.

Last updated: 11 October 2017

Results

Auction Summary
Tender Size ($m) 900
Offers Accepted ($m) 900
Offers Received ($m) 3,645
Coverage Ratio 4.0500
Treasury Bonds Purchased
Series Repurchased 3.25% 21 October 2018 2.75% 21 October 2019
Series ID TB141 TB143
ISIN AU3TB0000176 AU3TB0000184
Offers Accepted ($m) 162 738
Weighted Average Accepted Yield (%) 1.7925 1.9492
Lowest Yield Accepted (%) 1.7925 1.9475
Highest Yield Accepted (%) 1.7925 1.9525
Total Amount of All Offers Received ($m) 1,647 1,998
Total Number of Offers 21 27
Total Number of Successful Offers 3 10
Number of Offers Accepted in Full 0 5
Best Offer (%) 1.7925 1.9525
Worst Offer (%) 1.7750 1.9350
Weighted Average Offer (%) 1.7868 1.9461
Amount Repurchased at Lowest Accepted Yield as Percentage of Amount Offered at that Yield* 50.6 50.4

Last updated: 11 October 2017