Tender 23

Announcement

The Australian Office of Financial Management (AOFM) will hold a tender for the repurchase of two outstanding Treasury Bond lines on Monday, 4 December 2017. The total tender size will be $400 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 ($million) 400
Series to be Repurchased 3.25% 21 October 2018 5.25% 15 March 2019
Series Number TB141 TB122
ISIN AU3TB0000176 AU300TB01224
Maximum Volume of Series to be repurchased – Subject to Total Tender Size ($million) 350 350
First Coupon Payment Due* 21 April 2018 15 March 2018
First Coupon Payment Amount (per $100 face value) $1.625 $2.625

*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 10.00 am and 10.10 am Australian Eastern Daylight Time on Monday, 4 December 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 Wednesday, 6 December 2017.

Last updated: 4 December 2017

Results

Auction Summary
Tender Size ($m) 400
Offers Accepted ($m) 400
Offers Received ($m) 1,702
Coverage Ratio 4.2550
Treasury Bonds Purchased
Series Repurchased 3.25% 21 October 2018 5.25% 15 March 2019
Series ID TB141 TB122
ISIN AU3TB0000176 AU300TB01224
Offers Accepted ($m) 215 185
Weighted Average Accepted Yield (%) 1.6860 1.7250
Lowest Yield Accepted (%) 1.6850 1.7250
Highest Yield Accepted (%) 1.7000 1.7250
Total Amount of All Offers Received ($m) 699 1,003
Total Number of Offers 10 18
Total Number of Successful Offers 2 2
Number of Offers Accepted in Full 2 0
Best Offer (%) 1.7000 1.7250
Worst Offer (%) 1.6700 1.7100
Weighted Average Offer (%) 1.6806 1.7202
Amount Repurchased at Lowest Accepted Yield as Percentage of Amount Offered at that Yield* 100 52.9

Last updated: 4 December 2017