Tender 28

Announcement

The Australian Office of Financial Management (AOFM) will hold a tender for the repurchase of two outstanding Treasury Bond lines on Wednesday, 11 April 2018. The total tender size will be $600 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 ($million) 600
Series to be Repurchased 2.75% 21 October 2019 4.50% 15 April 2020
Series Number TB143 TB126
ISIN AU3TB0000184 AU3TB0000036
Maximum Volume of Series to be repurchased – Subject to Total Tender Size ($million) 500 500
First Coupon Payment Due 21 April 2018 15 October 2018
First Coupon Payment Amount (per $100 face value) $1.375 $2.250

*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 Standard Time on Wednesday, 11 April 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 Friday, 13 April 2018.

Last updated: 11 April 2018

Results

Auction Summary
Tender Size ($m) 600
Offers Accepted ($m) 600
Offers Received ($m) 1,613
Coverage Ratio 2.6883
Treasury Bonds Purchased
Series Repurchased 2.75% 21 October 2019 4.50% 15 April 2020
Series ID TB143 TB126
ISIN AU3TB0000184 AU3TB0000036
Offers Accepted ($m) 500 100
Weighted Average Accepted Yield (%) 1.9769 2.0521
Lowest Yield Accepted (%) 1.9700 2.0500
Highest Yield Accepted (%) 1.9825 2.0525
Total Amount of All Offers Received ($m) 1,103 510
Total Number of Offers 18 12
Total Number of Successful Offers 9 5
Number of Offers Accepted in Full 6 2
Best Offer (%) 1.9825 2.0525
Worst Offer (%) 1.9525 2.0375
Weighted Average Offer (%) 1.9702 2.0472
Amount Repurchased at Lowest Accepted Yield as Percentage of Amount Offered at that Yield* 32.5 12

Last updated: 11 April 2018