Tender 26

Announcement

The Australian Office of Financial Management (AOFM) will hold a tender for the repurchase of two outstanding Treasury Bond lines on Monday, 26 February 2018. 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 ($million) 400
Series to be Repurchased 5.25% 15 March 2019 2.75% 21 October 2019
Series Number TB122 TB143
ISIN AU300TB01224 AU3TB0000184
Maximum Volume of Series to be repurchased – Subject to Total Tender Size ($million) 300 300
First Coupon Payment Due 15 March 2018 21 April 2018
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 10.00 am and 10.10 am Australian Eastern Daylight Time on Monday, 26 February 2018.

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, 28 February 2018.

Last updated: 15 March 2018

Results

Auction Summary
Tender Size ($m) 400
Offers Accepted ($m) 400
Offers Received ($m) 1,140
Coverage Ratio 2.8500
Treasury Bonds Purchased
Series Repurchased 5.25% 15 March 2019 2.75% 21 October 2019
Series ID TB122 TB143
ISIN AU300TB01224 AU3TB0000184
Offers Accepted ($m) 192 208
Weighted Average Accepted Yield (%) 1.8066 1.8728
Lowest Yield Accepted (%) 1.8050 1.8700
Highest Yield Accepted (%) 1.8100 1.8750
Total Amount of All Offers Received ($m) 526 614
Total Number of Offers 15 16
Total Number of Successful Offers 7 6
Number of Offers Accepted in Full 3 4
Best Offer (%) 1.8100 1.8750
Worst Offer (%) 1.7900 1.8050
Weighted Average Offer (%) 1.8026 1.8666
Amount Repurchased at Lowest Accepted Yield as Percentage of Amount Offered at that Yield* 59.4 60

Last updated: 15 March 2018